Current Event: Creating a Cradle-to-Cradle Economy

Looming resource shortages, rising and volatile commodity costs, new technologies, extending producer responsibility regulations, landfill bans, and changing customer preferences are driving a shift in our economy's current business paradigm. We are experiencing an exponentially growing population and the scarcity of non-renewables. Acknowledging these issues and more, it is imperative that businesses move from a "take-make-waste" business model into a circular economy business model. These circular economy business models are based on longevity, renewability, reuse, repair, upgrade, refurbishment, sharing and dematerialization. Lessening the impacts on the environment, this new way of conducting business presents a completely different view on the mission of a business. 

Not surprisingly, the supply chain is the area of a business in which the greatest amount of improvement and waste reduction can be made. From sourcing to manufacturing to distribution to retailer to customer...the possibilities are endless. These kind of improvements require thinking from the bottom up, rather than making incremental resource efficiency improvements as time goes on. Creating a closed loop is important for many reasons including: development of new markets, creating a continuous improvement platform, building value-added customer relationships, achieving cost savings, and building brand a reputation. 

So what does it take to make these changes?? It certainly starts with the mindset of the business and involves a future-looking model. It starts with management and executive commitment. It involves a strategic business plan that involves essentially the entire supply chain. It involves investment into R&D and establishing relationships with suppliers...

This is all much easier said than done, but the payoff represents the future of our economy. No longer can we continue to risk resource shortages, natural resource depletion and waste of surplus resources. 

For me, this is an exciting time to be entering the business world. There are numerous advancements and improvements to be made and though I do not necessarily have the answers, I look forward to making moves towards the solutions. 

source used: http://www.greenbiz.com/article/how-circular-economy-could-end-take-make-waste-businesses