Managing_Operations_and_the_Supply_Chain_BSOM046-SUM.docx.pdf

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1 | P a g e Faculty of Business & Law Student name: QUY VIET BAO Student ID: 20403081 CIRCULAR ECONOMY: A THEORETICAL AND PRACTICAL REVIEW BSOM046-SUM MANAGING OPERATION AND THE SUPPLY CHAIN Lecturer: Mr. Desmond Kapofu
2 | P a g e Contents 1. INTRODUCTION ............................................................................................................................... 3 2. THEORETICAL PERSPECTIVE OF CIRCULAR ECONOMY ................................................. 4 2.1. Concepts and characteristics ...................................................................................................... 4 2.2. Main drivers and benefits ........................................................................................................... 6 2.3. Circular supply chains models ................................................................................................... 8 3. PRACTICAL PERSPECTIVE OF CIRCULAR ECONOMY ..................................................... 10 3.1. Company and product introduction ........................................................................................ 10 3.2. Philips circular economy application ...................................................................................... 10 3.3. Success in circular economy adaptation via Pay-per-lux ...................................................... 13 4. CONCLUSION ................................................................................................................................. 14 REFERENCE ............................................................................................................................................ 15 Table of figures Figure 1. Linear Economy .................................................................................................................. 5 Figure 2 Circular Economy ................................................................................................................ 6 Figure 3. Concept of circular economy (Eva Guldmann, 2016). ......................................................... 7 Figure 4. A circular supply chain type (Luciano et al., 2017) ............................................................. 9 Figure 5 Restorative flows enabled by circular supply chains. (a) Closed-loop flows (within a supply chain). (b) Open-loop flows (across supply chains) (Ellen MacArthur Foundation, 2014) ............... 10 Figure 6 Phillip circular business model (adapted from Philips, 2020) ............................................ 11 Figure 7 Philips circular supply chain (Philips, 2020) ...................................................................... 13