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Circular Supply Chains: Leveraging the power of strategic procurement

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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. 

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