ABSTRACT
In the current business environment, operations of companies are moving from linear economic system modelled around a “take-make-dispose” approach to a circular system which takes into consideration the optimisation of the entire supply chain from production, consumption, and customer service to post-disposal of products. Increasing awareness of the impact of the current linear economy is driving companies to reconsider their supply chains with regard to economic, social, and environmental objectives. Circular supply chains emphasise the need for supply chains to transition from the current linear economy, which is characterised by increased price volatility, supply chain risks, and growing pressure on natural resources. Described as restorative and regenerative by design, companies that have embarked on the transition to a circular economy are seeking to be able to keep products, components, and materials in their supply chains at the highest utility and value, hence substantial cost saving on materials and resources.
