Embrace sustainability by developing a powerful and profitable circular business model.
In an era where environmental concerns and resource scarcity are at the forefront of global challenges, circular business models have emerged as powerful strategies to address these issues while also driving economic growth. These innovative approaches prioritize sustainability, minimize waste, and promote the efficient use of resources, presenting a win-win scenario for businesses, consumers, and the planet.
Circular business models diverge from the traditional linear “take, make, dispose” approach, instead opting for a circular flow of materials, energy, and products.
This is a hot topic within the pharmaceutical packaging industry as well as other industry segments. Learn more about some key principles behind circular business models.
The key principles behind circular models:
- Design for Longevity and Reuse. Businesses design products with durability in mind, enabling them to be repaired, upgraded, or disassembled for parts. This means extending their lifespan and reducing the need for frequent replacements. Perfect!
- Resource Efficiency. Circular models emphasize the efficient use of resources by recycling, remanufacturing, and refurbishing products. This not only conserves raw materials but also reduces energy consumption and pollution associated with production.
- Product as a Service. Companies shift from selling products to providing services. This enables customers to access the benefits of a product without the burden of ownership. With this approach you foster a deeper connection between businesses and customers while encouraging product longevity. A true win-win.
- Closed-Loop Supply Chains. Circular models prioritize closed-loop systems. This means that products are collected at the end of their lifecycle, disassembled, and their components recycled or repurposed. This minimizes waste and the need for new materials.
- Collaboration and Innovation. Circular models often require collaboration across industries and sectors. Businesses can partner to share resources, exchange materials, or create innovative solutions that promote circularity. Together we can achieve more!
The benefits of a circular business model:
The benefits of circular business models are far-reaching. Companies adopting these models can experience reduced production costs, enhanced brand reputation, and increased customer loyalty due to their commitment to sustainability. Additionally, circular models contribute to a more resilient economy by reducing the pressure on resource availability and minimizing environmental impacts.
In conclusion, circular business models are paving the way for a more sustainable and prosperous future. By reimagining the traditional linear approach, businesses can embrace innovative strategies that benefit both their bottom line and the health of the planet.
As the pharmaceutical packaging industry continues its journey into Industry 4.0, circular business models offer a compelling framework for sustainable growth, innovation, and their bottom line.
Circular business models are more profitable!
-“Ever since the breakthrough of industrial society, we have been taught that economic value is created by producing and selling things that are then thrown away. Today, we know from research that circular business models are as profitable or more profitable than linear ones” says Josefina.
Josefina Sallén, Advisor Circular Transition at RI.SE
So, how do I get started?
The simple answer is, start with watching the webinar “Circular business models” with Josefina Sallen, hosted by Graniten.
Graniten has a silvermedal-status in the EcoVadis rating which is a globally recognized business sustainability rating provider that over 75,000 companies use to assess and improve their sustainability performance. Graniten is in the top 25% segement of the participating companies.
-” We hope that we can inspire more companies to become sustainable, this is why we asked Josefina to join our webinar on the subject of “Circular business models” says Magnus Wall.
Magnus Wall, CEO at Graniten.