FIVE MINUTES WITH ...
Q . WHAT ARE SOME STRATEGIES THAT MANUFACTURERS CAN USE TO SHIFT THEIR BUSINESS MODELS TO A CIRCULAR ECONOMY ?
» Successfully incorporating circularity into manufacturing is not easy . It requires adapting corporate culture to ensure expectations meet the outcomes that I described above while continuing to meet stakeholder expectations .
I encourage clients to start with a pilot programme , whether it is a single product , product group , or facility and to bring together a multifunctional team to collaborate closely through the entire effort . Business modelling , sourcing , product design , engineering , manufacturing , marketing , etc . must all come along for the ride .
Manufacturers that take this step will likely have strong corporate sustainability teams , which should be leveraged extensively . Their experience is invaluable , as they usually come from functions across their enterprise and have been focused on the outcomes we are looking to achieve .
Throughout the pilot , digital capabilities and access to data are key . To implement circularity successfully , non-traditional data that doesn ’ t always sit in the ERP is critical . And , while this data may exist somewhere , it may not be easily accessible . As we all know , while the advantages of implementing digital technologies are massive , implementations are often unsuccessful . But circularity pilots are yet another reason to take the plunge and start enabling more digital capabilities .
22 July 2023