Affiliation:
1. Faculty of Management Studies, CMS Business School, Jain University (Deemed), India
2. AIT CSE, Chandigarh University, India
3. Dayanand Sagar Academy of Technology and Management, India
Abstract
In a world fraught with environmental concerns, the furniture sector contributes significantly to waste generation and pollution. Knowing this critical issue, IKEA, a global leader in furniture retail, has embraced circular economy concepts to design and produce furniture that promotes durability, simplicity of disassembly, and recyclability. This case study looks at IKEA's circular design strategy and how it has the potential to improve the environmental effect of the furniture sector. The concept of sustainability stresses meeting current needs without risking future generations' ability to meet their own. In this environment, the circular economy arises as a production and consumption model aimed at eliminating waste and pollution by extending the life of resources. This case study, in a transformative analysis of sustainable business practices, reveals IKEA's detailed techniques for building a more eco-conscious and circular approach to furniture and retail. This study, based on three fundamental principles—design for longevity, design for disassembly, and design for closed-loop recycling—delves into IKEA's commitment to creating furniture of lasting quality, engineering for easy disassembly, and actively utilizing recycled materials. What distinguishes IKEA is the breadth of its circular design approach, which includes the full product lifespan from conception to end-of-life management. IKEA's strategy, based on an in-depth analysis of customer behavior, ensures that its goods meet user preferences while also contributing to a circular economy. In addition to its dedication to circular design, IKEA has set lofty environmental targets, intending to create a circular business by 2030. This dedication is further proven by IKEA's significant investments in R&D, concentrating on breakthrough circular design solutions. Furthermore, IKEA aggressively interacts with suppliers and partners to integrate circular economy ideas across its supply chain, thereby multiplying the impact of its initiatives. IKEA's transition to a circular economy serves as an example for other businesses, showcasing the transformative power of circular design principles in tackling sustainability issues and building a more sustainable future for all.