So, what is it and why do we need it?
Circular Economy is an alternative to Linear Economy and attempts to move away from the ‘take-make-consume-dispose’ production and consumption model, and towards optimising the efficiency throughout the supply chain. Reviving by design; it aims to:
- Restore resources
- Increase resource efficiency
- Regenerate products and components
- Protect the environment
In a linear economy, the product is disposed of and considered waste at the end of its life cycle. Alternatively, Circular Economy looks to extend the product life cycle, in which the resources are retained for as long as possible, and products and components are regenerated in a variety of ways at the end of their life cycle.
Achieving a fully Circular Economy requires a systemic rethinking of supply chains and businesses, and poses challenges. When realised, it is a fundamental move towards ensuring a long-lasting economic, social, and environmental sustainability.
For businesses, the circular economy provides opportunities to reduce waste in their operations, which often has both environmental and financial benefits. Within Yorkshire, businesses are already working to realise the potential of the circular economy through programme such as the Resource Efficient Business Circular Economy support programme provided by the Leeds City Region LEP.
Want to know more? Then stay tuned…
Following the Waste Management event in March, a series of workshops on different aspects of Circular Economy are designed to be delivered throughout the year. Going back to basics, Workshop 1 is an attempt to define the concept and the building blocks of Circular Economy, recognising and highlighting the challenges, and breaking down the practical steps that are required to be taken to move towards a Circular Economy. The ultimate goal is to strengthen SMEs in the region.
Workshop 1: Rethinking Business through the Circular Economy
Tuesday 18th May 2021
These workshop series are jointly organised by West Yorkshire Combined Authority | Leeds City Region Enterprise Partnership (LEP); Huddersfield Business School, Northern Productivity Hub Research Institute – Supply Chain cluster; Leeds City Region (LCR) Supply Chain Programme.
Blog Post by Dr Sahar Validi
Senior Lecturer in Logistics & Supply Chain Management
Supply Chain Cluster Lead – Northern Productivity Hub Research Institute
Leeds City Region- Supply Chain Programme Academic Lead
University of Huddersfield Business School
Circular Economy Manager
West Yorkshire Combined Authority, Leeds City Region Enterprise Partnership (LEP)
For more details on this topic, or for general information on how we could help your SME, head to our homepage to register your interest, or contact one of our advisors: Supply Chain Programme | Leeds City Region (supplychainlcr.co.uk)