The PLM solution provider Aras has announced availability of the white paper “The Circular Economy as a Model for the Future.”
Image Courtesy of Aras
The paper authors write “Awareness of sustainability is growing. Today’s consumers are often making an extra effort to purchase products whose suppliers produce them in an environmentally friendly way, recycle, and use natural ingredients. This represents a fundamental societal shift that puts pressure on every company.”
Answers to the following questions and more can be found in the white paper.
How can companies and their products become more sustainable?
How can they manage their entry into the circular economy?
What digital tools are already available to help with this initiative?
Of particular interest is the discussion on the role of PLM to provide traceability of product data and the use of digital twin models to connect the digital thread.
The paper includes an insightful interview with German automotive supplier Grammer Ag on how they will use PLM data management capabilities to meet their sustainability goals.
The PLM Green Global Alliance recently hosted its first in a series of panel discussions and interviews that will explore sustainability topics with enterprise PLM solution providers. These forums will extend our recent article on the Intersection of PLM and Sustainabilitywhere we next hope to learn about examples of progress in sustainability being made by solution providers, their partners and customers.
Our inaugural interview was with Darren West, Product Manager Lead for SAP’s Circular Economy Solutions, who is based in the United Kingdom. We were excited to speak with SAP after reading their numerous recent announcements about the importance of sustainability and hear how they “walk the talk.”
From a recent World Economic Forum article “The circular economy can help save the planet if we start innovating now – Transitioning to a holistic circular economic model is critical to reducing environmental degradation and prioritizing biodiversity and nature, while also delivering on future competitiveness. In a circular economy, waste is designed out, and products are instead looped back into the production system at end of use. Consequently, growth is decoupled from the consumption of scarce resources, and materials are kept within productive use for as long as possible.”
“The circular economy presents a unique market opportunity upwards of $4.5 trillion by 2030. Accelerating this transition relies on the uptake of innovative new business models and disruptive technological innovation. Alongside prioritization of new business models, which now account for roughly 30% of M&A investment according to Accenture analysis, adopting new digital, physical and biological technologies can drive new opportunities and deliver on organizations’ triple bottom line.”
From a World Circular Economy Forum + Climate press release: “The circular economy is crucial to achieving the Paris climate goals – If we are to achieve the goals of the Paris Climate Agreement, the world needs to transition to a circular economy.
A circular economy will reduce greenhouse gas emissions by around 20 per cent and should thus be an integral part of the agreements made in the Paris Climate Agreement. The World Circular Economy Forum + Climate is the online conference to draw attention to the importance of a circular economy in reaching the climate goals.”
From the KPMG website “A net-zero world is dependent upon renewable energies to replace traditional power sources…. But there is a threat to supplies of the mined mineral and metals that drive these green technologies. In our latest report, Resourcing the energy transition: Making the world go round, we explain how the circular economy can help address these challenges. Reusing, recycling and repurposing metals and materials can contribute to surety of supply, and potentially reduce waste, pollution and carbon emissions by minimizing the need for extraction.”
The graph below, produced by KPMG in the report, on the supply country of origin and uses of rare earth minerals for green energy capture, distribution and storage is especially informative if not somewhat worrisome.
In this whitepaper on “PLM and Product Design for a Circular Economy“ from Infosys the authors write: “In order to achieve the building blocks of a circular economy, there are two broad initiatives that equipment suppliers should adopt for product development in its evolution to match industry needs. Product Lifecycle Management (PLM) is the workflow platform on which these changes can be implemented.” Read more HERE
From Linear to Circularis one of Ellen MacArthur Foundations’ flagship learning programmes aimed at postgraduate students and professionals at the start of their circular economy career. It is a fantastic opportunity if you want to bring greater purpose to your work or research and want to become a circular economy advocate and catalyst within your organisation. Learn more HERE.
Completing the Picture: How the Circular Economy Tackles Climate Change– From the Ellen MacArthur Foundation “Completing the Picture highlights the indispensable role that the circular economy plays in tackling the climate crisis. It aims to demonstrate how circular economy principles and strategies significantly reduce
greenhouse gas emissions.” Read this important paperHERE.
“Rebooting PLM for a Circular Economy – Product lifecycle management needs a reboot. Growing concerns about sustainability, combined with recent technology advances, have driven the need to redefine product lifecycle management (PLM).” Read more in this Forbes Council Post from Jeff Kavanaugh.
In this article on the Circular Economy and PLM from Technia the author writes “At Technia we are looking into developing the PLM tools that will enable companies to switch to a fully circular approach…PLM systems should serve as a major help for companies looking to switch to a circular (economy) model.” Read more HERE.