What is a Circular Economy Supply Chain Strategy?
A circular economy supply chain strategy is a plan of action that enables businesses to transition their operations towards circular principles. This includes reducing waste and maximizing resource efficiency. This type of strategy is focused on creating a more sustainable and efficient supply chain that reduces the negative environmental impacts of traditional supply chain operations. The plan is based on a comprehensive understanding of the current state of the supply chain and the desired outcomes, including measurable targets (KPIs) and related projects that can be implemented to achieve those goals.
What's included in this Circular Economy Supply Chain Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Circular Economy Supply Chain Strategy template for?
The template is designed for businesses that want to create a strategy for implementing circular economy principles in their supply chain operations. It is an easy-to-use guide for businesses of any size, from small to large, to create a strategy that will maximize resource efficiency and minimize waste in their operations.
1. Define clear examples of your focus areas
A focus area is a broad area of activity that you want to focus on in your circular economy strategy. Examples of focus areas may include increasing resource efficiency, increasing resource reuse, or increasing resource recovery. Each focus area should be clearly defined before setting objectives, targets, and projects.
2. Think about the objectives that could fall under that focus area
Objectives are specific goals that you want to achieve in each focus area. These should be measurable and relate specifically to the focus area. Examples of some objectives for the focus area of Increase resource efficiency could be: Reduce waste in production, and Maximize resource utilization.
3. Set measurable targets (KPIs) to tackle the objective
KPIs (Key Performance Indicators) are specific, measurable targets that you want to achieve in order to meet your objectives. For each objective, there should be several KPIs that are measurable and can be tracked over time. An example of a KPI for the focus area of Increase resource efficiency could be: Decrease amount of waste by 10%.
4. Implement related projects to achieve the KPIs
Projects are the practical steps that you can take to achieve the KPIs. For each KPI, there should be several related projects that can be implemented to achieve that goal. An example of a project related to Increase resource efficiency could be: Implement a waste tracking system.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform is a powerful tool that can help businesses create and execute their circular economy supply chain strategy. The platform provides an easy-to-use interface for businesses to create objectives, set targets, and implement projects. With Cascade, businesses can see faster results from their strategy and make the transition to a circular economy easier and more efficient.