Add to that the shrinking availability of raw materials and we are automatically forced to arrive at a production process that is sustainable on all sides. We’ve known that for a long time (the Club of Rome wrote it in 1974) but it’s only now that the government is coming up with serious policies that will usher in the next industrial revolution, which we call Industry 4.0 for the sake of convenience.
The first two industrial revolutions brought prosperity to a large part of humanity, the third brought people well-being and the fourth is intended to restore the balance on the earth, so that we can guarantee that prosperity and that well-being for a long time. For all the good that industry has brought to human civilization, there are also huge consequences for the health of the rest of the planet. If we want to find a way to make the fourth industrial revolution sustainable, we need to develop it further into a circular economy .
In addition to the beautiful and important views that the circular economy offers us, it is also important to make it practical. Imagine that a good use of business-critical electrical engineering components is not only good for people and the environment, but also makes a direct contribution to the result? That you not only eliminate the waste, but can even make money with it?
If we want to reduce our impact on the planet, industry must lead the way. More than 90% of the world’s waste is produced by industry. That makes the last bit caused by our households a lot less relevant. Instead of burdening people with plastic collection, the third, fourth and fifth separation container in the garden and deposits on all kinds of things, it is better to prevent these materials from reaching the end user.
The circular economy is more than a sustainability initiative – it is about helping industrial companies earn and save money by managing their resources and waste more efficiently. This waste can be reduced, monetized and distributed across supply chains and value networks. In other words, industrial companies must start to regard their waste as a valuable stock. When they do it right, they consume less and create more value for their shareholders.
The advantage of the circular economy is that you do not have to invent it yourself, but that it is already there. Companies that have invested in sustainability in recent years now see that their profits increase because they save on waste costs and earn from their residual products (not to mention residual production resources). GE Digital has calculated that about 700 billion dollars in turnover per year in the circular economy.
As mentioned, in addition to the output of your production process, the way in which you produce is also important. Are your machines sustainable? Which consumables do you use in the process and how do you ensure that your machines and components are sustainably recycled or even reused at the end of their lifespan? PartTracker has smart solutions to realize this and to develop custom solutions for your production chain. We are happy to discuss this with you because we are convinced that the circular economy is not only necessary, but can also be profitable for all parties involved.