1534590102_1532934344__BAW1877-1.docx - BSOM046 Running...

This preview shows page 1 - 4 out of 12 pages.

BSOM046 1Running Head: CIRCULAR ECONOMY“Managing Operations and Supply Chain”[Name of Writer][Name of Institute]
BSOM046 2“Managing Operations and Supply Chain”IntroductionThe circular economy is an element which enables one organization to build economic activities to attain more productive outcomes for organizational operations. However, an observation has been made which identifies the economic concept which requires the workforce to work on effective scales. This approach is not limited as large and small organizations can induce economic activities. However, economic transaction aims to reduce the negative impacts determined in the organization (Srivastava et al., 2007, p.53-80.). Economic transaction provides a measure of systematic shift to the organization which aids the organization to establish long-term flexibility to generate more economic and business opportunities which also provides the organization to gain social and environmental benefits as well. Furthermore, the measures of circular economy extricates between biological and technical cycles. However, the process of consumption takes place in biological cycles where organization deals with the products like food products or biologically based products (i.e. wood or cotton) which are consumed in the process of anaerobic digestion. However, the technical cycles integrate the products which can be used for recycling (Srivastava et al., 2007, p.53-80.). This assignment is made to elaborate the strategies made for managing operations and supply chain based on two different perspectives (i.e. Theoretical and Practical). The theoretical perspectives will cover different aspects of circular economy and associated characteristics. On the other side, the drivers of circular economy will be elaborated in relation to have environment,society and business benefit and the role of circular economy will be elaborated in relation to support the supply chain operations in an organization. Moreover, practical perspectives some instances will be provided based on a specific organization and its operations will be defined
BSOM046 3based on the circular economy. Lastly, this assignment is going to elaborate various business operations associated with supply chain process that will aid to understand the concept of circular economy in relation to business operations. Theoretical Knowledge and UnderstandingCharacteristics and Concepts of Circular EconomyThe present concept of circular economy is the one promoted by EU as well as other governments like Japan, UK China has also induced the concept of circular economy in their native organizations (Genovese et al., 2017, p.344-357.). However, a recent estimation has been made by EU associated with circular economy that more than 500 Billion Euros has been gained in the manufacturing segment of EU alone. However, the approach of circular economy has provided an advantage of annual 900 billion US dollars (Sarkis et al., 2011, p.1-15.).

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture