The circular economy is based on the principle of reusing resources. Maximum resource-saving and environmental friendliness are the only paths for human prosperity, and contemporary entrepreneurs understand this.
Сlosed-loop systems are gaining popularity when companies, buildings, or even small towns provide themselves with resources and then recycle them. The circular economy is an alternative to the classic linear economy and based on the principle of "production - use - recycling." The circular economy engages in to use of renewable resources and move to waste-free production.
of the same material as raw materials will help reduce economic damage to the environment, analysts from the Organization for Economic Co-operation and Development (OECD) - 36 of the world's most developed countries - believe.
At the heart of the circular or closed-loop economy are three principles: Reduce, Reuse, Recycle: reducing waste and reducing the resource intensity of production, reusing resources, and recycling waste. This model has high expectations for both the driving force of scientific and technological innovation and the response to global climate change.
Cyclical business models are changing products and materials across the economy to reduce the negative impact of the extraction, use, and disposal of these materials for nature. It is not only about improving a particular production cycle or factory but generally about changing the process of production and consumption. Businesses concerned about profit only and ignore the other basic principles do not have a coherent business picture and are losing position.
By closing the resource chain and slowing down the movement of products within the economy, circular business models reduce the negative effect of economic activity on the environment. For example, the use of recycled materials rather than non-renewable resources in production can reduce greenhouse gas emissions by up to 90%
, depending on the industry. The transition to a cyclical economy requires the introduction of technology at all stages of production and processing. Merging advanced technologies is an integrated approach to solving climate emergencies and manage natural resources more adequately.
The future of our planet is people, not machines. Manufacturing automation is not the only key to a successful strategy. The skills of employees, their desire for innovation, and mastery of knowledge are the most valuable. To optimize processes, a company needs to bring people, ideas, and data together, both inside and outside the enterprise.
Managers and employees have to interact and share best practices openly: only if these conditions are met, the enterprise will operate with maximum efficiency. With real-time data about the entire product lifecycle, companies will be able to pinpoint weaknesses in manufacturing, delivery, and processing processes and eliminate unsafe products, fraud, and counterfeiting. Sharing detailed and up-to-date quality data perfectly coordinates the actions of the participants of the system and saves resources.
Digital modeling methods
of the production chain apply to any scaled businesses and even start-up companies. Each participant in this chain knows its place in the chain, has clear goals, and interacts with other participants. All actions, resources, and processes must be optimized within it, and only in this way success can be achieved.
From production to recycling, IoT sensors collect information about processes. Smart Farms and Smart Manufacturing are just the beginning of the cycle. Also, IoT sensors monitor and control the delivery and processing processes.
Smart systems develop infrastructure and logistics, improve traffic management to avoid traffic jams and unnecessary carbon dioxide emissions. Smart trash cans automatically send data to recycling companies, avoiding landfills and sending waste for recycling on time.
Besides, traceability means increased safety for people and nature.
The precise amount of water and fertilizer on smart farms ensures product quality and safety. Coordinated and transparent actions of farmers, drivers, waste workers improve the state of ecological systems. All information is stored in a secure database. Each product will be identified for its carbon footprint, and consumers will be able to make an informed choice in favor of it. The technical equipment of farms stimulates regenerative agriculture and land use and solves problems through special reward, tracking, and verification systems.
Complex modern production needs flexible and efficient management systems that do not harm the environment. FCE system provides analysis and accountability within the entire production, delivery, and recycling system, a centralized approach to collecting data from a variety of sources, and the rapid approval of large amounts of production data.
and analysis platform makes all steps independently verified by participants in the supply chain. It eliminates fraud, counterfeit products, increases transparency and responsibility, enhances confidence for all participants in the supply chain. Each step has a notary reassurance as a blockchain transaction and is displayed in the FCE blockchain
conduit with round-the-clock public access. The QR code on each product
contains complete information about the product, ingredients, history, origin, suppliers, etc.
While at their workstations, employees can work with other teams to solve problems or submit requests. Employees in different departments interact faster and more efficiently with information that automatically adds context to the problem. Processes are supported to select the best time for planned technical work with the least impact on service performance.
Contemporary business cannot be viewed in isolation from the sustainability of the planet. Recycling economy, waste management, business digitization is an obvious way to make a company environmentally friendly and bring additional profit to the enterprise, economy, and people. Eco-friendly and careful manufacturing is a new paradigm for companies that desire to maintain industry leadership while striving for progress and prosperity.