Circular supply chain transformation: leveraging evolving technologies for enhanced performance

Abstract

ABSTRACT Circular supply chains (CSC) and evolving technologies work together to enhance supply chain performance. To assess this, we examine the integration of technologies, such as Industry 4.0, smart manufacturing, and smart logistics in a CSC setup. The study focuses on two product types: smart and normal (non-smart) products. Smart products feature sensing, connectivity, networking, and monitoring capabilities, while normal products lack these features. Using a multi-objective optimisation technique, we analyse the CSC network to estimate the benefits of evolving technologies. The study aims to maximise profits and minimise carbon emissions across the supply chain. Eleven models are examined based on varying demand percentages of smart and normal products. The gamultiobj algorithm (a variant of NSGA II) is used to generate Pareto frontiers. The findings show that a 2-5% increase in technology adoption costs can boost profits by 15-30% and reduce emissions by 20-30% for smart products.