Circular Procurement — A New Mission Beyond Savings
In this report, we explore how procurement and supply chain organizations can and must play a more central role in making the circular economy a reality. This report argues that increasing acceptance of the concept of a circular economy should come from those within large organizations responsible for key procurement and supply chain decisions such as how to plan, source, make, deliver, and return (or perhaps reuse).
This is no easy feat, but economic growth will make it a necessity. By 2050, the world economy is expected to quadruple, and the global population is projected to grow from the 7.3 billion it is today to close to 10 billion. As the population grows so will demand for food, housing, energy, clothing, and electronics. This will inevitably put extreme strain (and most likely cause severe shortages) on the planet’s resources. Being able to stretch available resources as far as possible is imperative, but how do we get there?