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Moving from a linear “take, make, discard” economy to a circular one utilizing a “make, use, return” approach requires new business models and disruptive innovation. The IT industry is uniquely positioned to support the ideals of the circular economy by inventing more sustainable technologies, services, and solutions that design out waste, improve product longevity, and keep resources in the value chain as long as possible. Scaling circular solutions requires that they are also more convenient and deliver better value to customers.
Progress requires closed-loop processes that enable companies to recycle and reuse products at end of service to reduce environmental impact and drive efficiencies. It entails developing and nurturing innovative service-based models, such as subscription or managed print services and PCs as a service, that allow customers to reduce costs, lower waste, and scale as business demands. It means creating modular designs that make products easy to maintain and repair. For purchasers, policies that move toward buying services vs. “things” will change the incentives for manufacturers to create designs that eliminate waste, lower costs of maintenance and operation, thus creating conditions that will enable the circular economy.
Transformational technologies such as 3D printing will help businesses reduce the materials needed to create a finished product, improve short-run manufacturing, create infinite virtual inventories of products, extend product life cycles, and match supply with demand.
Learn how HP is reinventing to support the circular economy. The workshop will include specific tips for purchasers operating in the circular economy.
Session Category : Circular Economy