What is the circular economy?
The circular economy is an alternative to the current ‘take, make, waste’ linear economy based on extracting raw materials, manufacturing a product, consuming and disposing of the product. A circular economy is based on the principles of designing out waste and pollution, keeping products and materials in use, and restoring and regenerating natural systems. Manufacturers in Wales can be part of the circular economy – making small changes to supply chains can have a big positive impact on the company.
For manufacturers, the circular economy means reducing waste and maintaining the value of resources for longer by utilising the waste of one process as the input of another. By designing systems that consider the whole-life of a product and considering re-using, re-manufacturing, or recycling components, less raw material is required. Quality improvements to manufacturing processes can result in a reduction of waste by ensuring that the outcome is repeatable and material flows are predictable.
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