What is the Circular Economy?
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Dassault Systèmes describes the Circular Economy as, “restorative and regenerative”, in contrast to the “take-make-waste” linear model. In this current system, we take resources from the Earth, turn them into products, and then finally discard them. Contrarily, in a circular system, waste generation is avoided altogether by applying three key principles, as outlined by the Ellen Macarthur Foundation:
- Eliminate waste and pollution
- Circulate products and materials at their highest value
- Regenerate nature
The switch to renewable energy and materials is the foundation of the circular economy. It recognizes that we must restructure our economic model in a way that benefits society, business, and the environment.
Why Do We Need a Circular Economy?
It isn’t just about recycling. It’s about using resources in ways that create value over and over again, so that we can reduce the amount of material used. Here are five reasons why a circular economy is important for people, planet and profit:
- Helps to reduce waste and pollution.
- Improves quality of life by reducing the need for new materials
- Enables us to use less energy and natural resources
- Creates new jobs and income opportunities
- Cuts costs for manufacturers which can be passed on to consumers
How Can You Start Implementing a Circular Economy?
It can be challenging to implement the circular economy in your company. Designing a system should be your primary focus rather than any specific product. That’s why a Product Lifecycle Management (PLM) system can be such a powerful tool in accomplishing this aim.
In order to simplify the creation of circular goods, we’re constantly investigating new possibilities through digitalization. For example:
We’re already helping organizations like yours to realize these opportunities. But, before making real changes to your organization, you need a comprehensive overview of your operations and a way to simulate a new model, since circular economy solutions require us to rethink operations from the ground up.
How Can PLM Help Implement a Circular Economy?
PLM controls the whole product lifetime, from conception to disposal, and gathers all information pertaining to design, parts, and materials. The virtual collaborative platform of PLM then offers a space for making significant decisions about products.
Your organization’s aspirations for a circular economy are much more readily realized with access to a transparent “single source of truth.”
The Circular Economy strives to increase the number of products and materials used by giving enterprises a powerful framework to produce goods more intelligently. This goal is intended to be achieved while maintaining living standards, limiting the exploitation of the earth’s limited resources, and minimizing environmental damage.
In Our Experience…
Your PLM system can be the best solution for managing a product’s lifecycle circularly, and we’re constantly developing solutions and support that will help you to make that a reality. For instance:
- Supply Chain Management to track environmental impact
- MODSIM (Modeling & Simulation) to design for recycling, reuse and repurposing
- Digital Twin for developing, testing, monitoring, and maintaining products and production processes
To come up with the best solutions possible, we’re collaborating with several companies and certification institutions to understand which features will best support a circular model.
We know companies are often making the switch gradually, and we want to create modules that will help them schedule that work in the most efficient way possible. That’s why we’re working together with industry professionals to make product creation sustainable.
