Circular Supply Chains: Leveraging the power of strategic procurement
Lead contributor: Joyce Halloun
Amidst efforts to fight climate change and reduce Co2 emissions, this chapter will showcase how circular procurement plays a key role in the transition into a circular economy, positively affecting the environment and the economy. In addition, it will highlight the global impact of Covid-19 and how it sheds light on our destructive consumption and production model. An analysis will underline on the key differences between the traditional and the circular procurement process and enhance the ability of the reader to contextualize the two frameworks in terms of standards, principles, and best practices. The analysis will also offer insights on important measures identified at a more granular approach that enable circularity through focal points in implementing the circular procurement process. The chapter will spotlight the significance of collaboration and partnership at multiple levels to bring massive positive change to the traditional linear system and open the doors for innovative business models. In addition, it will give a clear understanding on the impact of circular procurement on a small and large scale. On a small scale, it reveals why circular procurement’s impact on the overall supply chain is important to enable professionals to achieve added value through synergies and synchronized cycles. Therefore, this section elaborates on the connection between circular economy principles and circular supply chains, besides its key components and the vital role it plays about circularity. In addition, the acceleration points that merge to advance the application of circular supply chains are widely discussed. About the impact of circular procurement on a large scale, an explanation is provided concerning the public and private sectors, with detailed clarification on how the public sector leveraging its purchasing power can bring positive outcomes and advance the application of circular procurement. But how do multinational corporations and SMEs deal with the requirements of moving from linear to circular procurement. A spotlight on the barriers and obstacles that organizations and industries worldwide and regardless of their size are facing generates limitations to circular procurement practices. Some of the vital elements shared here are education, skills, partnership, and collaboration, emphasizing effective results. Some of the lessons learned along the way while practicing circular procurement will be identified to equip the learner with credible and practical instructions on how to move forward in terms of successful circular systems. Last, the practitioners will remarkably notice the urgency to take action now, embody a leadership attitude, and implement circular economy principles in their scope of work, specifically in the production and consumption model. The end concludes with a strong takeaway message that aid in recognizing the dreadful reality we are facing and bringing forth a sense of responsibility to join the march toward collective change.
What is circular procurement?
A spotlight on the key role of circular procurement, how it supports the circular economy action plan and accelerates the transition. Discover the damaging impact of the linear production and consumption model alongside the strategic drivers for circular procurement.
Who has the power to advance the implementation of circular procurement?
Discover who plays a vital role in the adoption of circular procurement. An outline on the public sector capacity and how leveraging its purchasing power can influence the application of circular procurement exponentially and bring substantial outcomes on different levels.
What is the convergence between the linear and circular procurement?
A highlight on the variance between the linear and circular procurement with a concrete comparison of standards, principles and best practices. Discover essential key elements that are viable, practical and make all the difference in this transformation.
What is the impact of circular procurement on circular supply chains?
Gain knowledge now on the connection between circular economy principles and circular supply chains. An elaboration on the importance and acceleration points of circular supply chains, the crucial role it plays in the transition and especially on waste elimination.
What is the impact of circular procurement on the public and private sector?
Explore the role of both the public and private sector in the execution of the circular procurement process. Learn more about the critical function of circular procurement in the public sector and how the private sector has the potential to reshape the future of business.
What is the impact of circular procurement on Multinational corporations and SMEs?
Explore the difference between the role of Multinational corporations and SMEs in applying circular procurement practices. A spotlight on the various barriers and challenges that generate limitations in implementing circular procurement in Multinational corporations and SMEs.
What are the key elements to activate circular procurement practices?
Lessons learned from experts in the domain are shared with credible direction on how to lead the path for circular procurement practices. Explore the importance of capacity building and providing adequate education to equip the workforce with the right skill set needed for the transition.
The need to mitigate climate change and overcome this alarming situation gives us a strong realization of the urgency of joining efforts to stop the noise and achieve global collective change. Discover now how every action counts.