Abstract
Modern manufacturing generates waste and causes shortages in natural resources due to a “take-make-waste” production system. The circular economy (CE) has been a policy initiative for supply chain looping strategies to reuse, refurbish, recycle, minimize, eliminate, share, and optimize material and energy use while maintaining firm profitability. Circular economy business models (CEBM) are recommended for achieving competitiveness for firms and their supply chains while reducing manufacturing waste and natural resource shortages present in the “take-make-waste” production system of traditional manufacturing. Despite the benefits of implementing CEBMs, there is a struggle to visualize the implications of CEBMs in organizational supply chains and beyond. This article presents the benefits of supply chain collaboration and infrastructure components based on practices of CEBM from several case study examples. Organizational, managerial, and technology development implications based on economic, environmental, and social dimensions are discussed from an administrative perspective. The paper ends with actionable steps for further advancement of CEBM in practice, along with areas for future research.
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