What is a circular economy?
The circular economy is an economic system with closed cycles. It focuses on large-scale recovery and reuse of materials, so that they retain their value at the end of a life cycle. If it is no longer possible to reuse, modify or repair a product, we can reuse the parts, materials or raw materials in new products.
Circular business models & design
The transition to a circular economy requires innovation of products and technology. How can we keep the use of raw materials and energy as low as possible and extend the life of the product? The design of a product already takes into account the possible reuse, disassembly, repair and/or recycling.
Cooperation in the supply chain is necessary, because parties in a circular economy depend on each other. For example, it is possible that a choice in the design phase results in a product no longer being recyclable or reusable.
Doing business in a circular economy requires new organizational forms: need fulfillment and services become more important than product ownership. A performance-based payment model makes it possible to maintain and recover the value of products, components and materials at the highest possible level. The transition from ownership to performance-based payment models offers attractive value propositions. Circular business models allow industries to develop completely new products and services that reduce Total Cost of Ownership (TCO) and improve customer loyalty. This will not only benefit the economy, but also social wellbeing and the environment.
Circular ideas and projects
The transition to a circular economy requires different ways of thinking and doing. Partners for Innovation supports you in setting up, designing and implementing ideas and projects related to product innovation, supply chain cooperation and the implementation of circular business models and design strategies. We also help in obtaining financing for innovative plans.
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