A linear economic model is not working for your business
The current linear model adopted by most businesses cannot provide the resilience needed in today’s environmental and economic landscape. Organisations are beginning to feel the effect of a linear economic model because the cost of capital goods is increasing, resources are becoming scarce, consumers are concerned about waste and the government is passing legislation to mitigate environmental impact. Majority of businesses are taking a reactive approach to environmental challenges by offsetting emissions, paying for waste compliance and shifting waste to other countries. However, this approach will not be sufficient for our current environmental pressures. This is why most governments are embedding circular economy principles to ensure that businesses are proactive.
Adopting a circular business model is proactive
Many businesses desire the circular economy (CE) because it offers the ability to use fewer resources whilst ensuring that you deliver value to customers and stakeholders. A circular economy reduces environmental impact, reduces compliance cost, increase revenue and enhance brand reputation. However, the transition to a circular economy is complex as it requires adopting new business models, product innovation and engagement of new stakeholders. At Avieco we understand these challenges because your business growth has typically been based on a linear economy. Our circular economy strategy will help you identify your current circularity status and opportunities for your business to reduce waste, reduce cost and open new revenue streams.
Benefit from circular business models
We map out your current business processes to identify opportunities where your business can benefit from one or more of the five circular business approaches.
1. Reduce environmental impact through circular supplies
Circular supplies are suitable when your business deals non-renewable resource and scarce commodities. Using circular supplies with recycled content means that you can avoid greenhouse gas emissions. We can help you identify which products are vulnerable and viable opportunities to replace them with renewable, recyclable or biodegradable resource inputs.
2. Increase business revenue with product life extension
Move away from designing single-use products to products with extended life cycles that can continue to generate business revenue. Companies are doing this by designing products that are suitable for remanufacturing, modular products and upgradable products. By extending the lifespan of the product, you can keep materials out of landfill, reduce costs, reduce greenhouse gas emissions and uncover new revenue sources.
3. Reduce material cost with sharing platforms
Sharing of under-utilised products can reduce the need for raw materials, reduce procurement cost and keep emissions low. This model is suitable for businesses with products that have low customers use rate or ownership such as DIY tools and transport. Develop products with high utility that can be shared amongst consumers which can reduce your business dependence on raw materials and reduce costs
4. Maximise assets through product-service systems
Product service systems allow you to develop ‘pay-per-use’ models that still provide value and solutions to consumers without them taking physical ownership of assets. Some companies are adopting product-service system for example Xerox sells a service package of an office equipment to customers who pay-per-copy. This way the business has ownership of the product and can reuse the materials in the product or refurbish it when it is no longer in use.
5. Valorise waste through resource recovery
Business and manufacturing operations generate waste, by-products or have retired assets that can be recovered for value. This ensures that you move away from compliance waste management toward resource efficiency by leveraging on technological innovations. We can map wasted resources within your supply chain that can be recovered or reused by other businesses.
A circular economy strategy that suits your business
In a time of climate challenges, it is important that your business continues to grow and deliver consumer value whilst reducing resource consumption and environmental impact. A circular economy strategy will underpin sustainability in your business model and operations. After identifying your business opportunities across the five circular business models, we will provide a roadmap which will give you an interactive action plan tailored to members of your organisation.
Our approach for developing a circular economy strategy starts with a circularity competency assessment which aims to understand your current business status based on four competency levels; foundational, intermediate, advanced and leader. We also adopt BS 8001:2017 framework for implementing the principles of the circular economy in organizations.
Start reaping the benefits of a circular economy strategy, get in touch with our experts today.
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