Abstract
The global environmental and economic security are indelibly intertwined, with the interlocking crisis in resource scarcity, population growth and environmental degradation putting sustainable growth and existing material–reliant industrial economy at risk. Circular economy aims to keep products at the highest value at all times through extension of product life times by applying end-of-life product recovery strategies. The aim of this paper is to understand the synergic interaction and feedback among a number economic, societal, regulatory, environmental, managerial and lifestyle factors in product recovery management system. In this paper, system dynamics modelling (SD) is applied to model and assess product recovery strategies. In addition, we provide a case study on the application of the model on Waste Electrical and Electronic Equipment (WEEE) to support the findings and validate the proposed model. The model is intended for policy makers to improve decisions and determine future goals in the management of end-of-life products.
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