The Circular Economy and Sustainable Operations
We have recently used linear production models: extract, produce, consume, and dispose. Our civilisation means that the consumption rate is increasing, which is a quick but unsustainable model for the earth. An MBA in operations management in India will teach you a concept called circular economy. The circular economy develops more sustainable production and consumption in which raw materials are maintained longer in manufacturing cycles and may be reused, resulting in significantly less waste. As the name implies, this approach aims to keep resources in the economy for as long as possible, allowing us to use the trash we produce as raw material for other sectors. Understanding the Circular Economy A circular economy is designed to be sustainable and regenerative. It is centred on eliminating waste, reusing materials, and recycling things to extend their life cycles. The circular economy aims to divorce economic development from consuming finite resources while addressing g...