Circular Economy

The circular economy is an economic and value creation system that aims to minimize resource consumption and waste production by maximizing the lifespan of products and materials. This model stands in contrast to the traditional linear economy. A central aspect of the circular economy is the so-called R-strategies. These include various approaches to extending the useful life of products and materials and using resources efficiently. Important R-strategies are: Reduce (reduction of material and energy consumption), Reuse (reuse of products and parts), Repair (repair of defective products), Refurbish/Remanufacture (refurbishment and modernization of products), Recycle (return of materials to the production cycle), Recover (recovery of energy from waste materials). The circular economy includes logistical tasks, as the return of products and materials must be organized. This includes the design of efficient reverse logistics networks, the collection and sorting of returns and the integration of recycling processes into the supply chain as well as the lifecycle-wide provision of information on products.