Track: Sustainable in SCM / Green Supply Chain

Abstract

The circular economy (CE) brings together the key aspects of sustainable development by creating solutions for environmental protection and economic gains. It is evident from the research that existing approaches do not rely upon systems thinking and therefore lack the holistic approach necessary to optimise CE value. The aim of this research project assesses the drivers and blockers for CE adoption within the context of the effective deployment of systems thinking in relation to the concept of a ‘Circular Economic Management System’ that promotes ‘CE competition’.The scope of research has focussed on CE deployment within Asset Management ISO 55000 Series of standards. However, during the course of the literature review it became apparent that the context of asset management systems are driven by business goals. If the business goals did not value the adoption of themes for example CE activity then the asset management system would not be obliged to consider them. This is a missed opportunity. Systems theory/thinking is a prerequisite for effective deployment of CE. For the purposes of this research it will focus on the deployment of systems theory/thinking with the deployment of CE within the rail sector as a proxy, within an asset management context. The findings can be assimilated across multiple sectors. This study is based upon a comprehensive literature review of the incentives for CE activity within the rail sector. This research will contribute towards future research that looks to develop a Circular Economic Readiness Framework for the Rail Sector.