The Ontology of a Product-Based Circular Economy Implementation Framework for the Manufacturing Industry

Abstract

The world economy has been built around a linear economy, that does not account for the impact on environment or operations of the industry. The concept of circular economy is being adopted by countries across the world to address this. In this chapter, a circular part repository business model and product-based circular economy implementation framework are presented to evaluate the environmental impact of the product manufacturing industry through the quantification of circular economy quotients. The approach to implementation of the framework onto a product lifecycle management platform is also explained. This would serve as the basis for building a circular part repository that could form the central core of existing eco-industrial parks thereby structuring the reuse of recycled material and minimising new raw material intake.