Meaning ● Circular Business Models redefine traditional linear value chains in Small and Medium-sized Businesses, prioritizing resource efficiency and waste reduction. Within the SMB Growth arena, they offer avenues for differentiation and market leadership through sustainable practices. ● This translates to the implementation of strategies that keep products and materials in use for as long as possible. In the context of Automation, circularity can be enhanced through technologies that facilitate reverse logistics and material tracking. ● Such models create new revenue streams via remanufacturing, refurbishment, or resale initiatives, enhancing financial performance. Furthermore, implementation involves restructuring internal processes and often collaborating with partners across the supply chain, ensuring smooth transitioning and optimization. ● For example, a small manufacturing business might implement a product take-back program, automating the sorting and assessment process. These strategies create opportunities to reclaim valuable materials, diminishing reliance on raw materials.
