Supply Chain 4.0 and the transition towards a circular economy

Abstract

Circular economy aims to minimize waste and extend the life cycle of products and materials through innovative solutions and business models. Accurate and comprehensive data is required to be able to enhance the traceability of products and materials as well as improving the efficiency and transparency of the supply chain. In this regard, Supply Chain 4.0, which is a utilization of Industry 4.0 technologies in supply chain management, can enable the transition towards a circular economy. Industry 4.0 technologies such as the internet of things can help companies redesign their supply chain by leveraging extensive utilization of sensors, process automation, network creation and analysis of large amounts of data. This chapter explores the concept of Supply Chain 4.0 in the context of a circular economy. The aim is to identify the role of Industry 4.0 technologies in circular supply chains and examine how these technologies utilize data to enhance circularity within supply chains.