Concept: Circular Economy

The three principles of the circular economy are:

• Design out waste and pollution
• Keep products and materials in use
• Regenerate natural systems

Within an Enterprise, the new product development process provides the way to understand the products and services being developed and delivered and look at the whole life cycle implications of the product or service to ensure that all biological and technological nutrients are recycled (e.g. turn into food for other processes).

See the Circular Economy External Standards for use in the Enterprise.

The next picture is from the Ellen Macarthur Foundation and represents the three principles and the various flows.

Concurrent Engineering of the product or service will ensure that all stakeholders needs are represented including the Household, the Government (local and national), the financial institutions and ensures that waste is recycled into food for other consumers. Recycling applies to both the biological and technical nutrients produced as part of the product or service.

Note: The new product development process includes the full Product Management Life cycle including:

• Design and Development of the primary product (including prototypes)

• Design and development of the manufacturing process

• The alignment and assessment of the full supply chain

• The support / warranty services

• The Return Services

• The Recycle processes and services.

This product team would include representatives from all of the areas identified above.

These principles are shown in the Doughnut Economics pictures below:

Kate Raworth, 2017