Embracing Circular Economy Principles for Sustainable Green Supply Chain Management in Manufacturing Industries

Abstract

The circular economy is a sustainable approach in the manufacturing sector that focuses on long-lasting product design, remanufacturing, recycling, and waste reduction. This approach optimizes resource utilization, reduces reliance on finite resources, and minimizes waste generation, contributing to environmental conservation and mitigating climate change's effects. Digital technologies and data analytics play a crucial role in promoting a circular economy in manufacturing supply chains, with IoT, AI, and blockchain enhancing visibility, traceability, and collaboration. The challenges of implementing circular economy principles are discussed, along with the potential economic benefits of sustainable production and consumption patterns. Case studies from successful manufacturing companies are also examined.