CIRCULAR ECONOMY

While different industries will produce varying levels of emissions associated with their supply chains – manufacturing , transportation and agriculture will typically be higher than service based industries – supply chain and procurement decisions have a significant impact on the overall global emissions . Therefore strategies to mitigate the effects and reduce emissions should include not only the company ’ s own operations but its suppliers and partners too .

Detailed breakdown of the industry key areas Crucial to the procurement of electrical equipment and components , circularity and repairability provide significant benefits for businesses looking to lower costs , energy consumption and emissions , and to digitise their infrastructure . While essential for supporting the energy requirements of a business , reliable equipment for industrial applications is expensive to buy and replace .

“ As a result , businesses need suppliers that can extend the life cycle of a new and existing asset , while minimising waste and maintenance ,” explains David Pownall , Vice President of Services at Schneider Electric UK and Ireland .

“ It ’ s a sustainable process that fits with the circular economy model of production and consumption . It also allows supply chains to be more flexible in the face of the rising cost of raw materials , which is putting pressure on businesses to become more resilient and resource independent .”

Across sectors , organisations are looking for ways to reuse , repair , refurbish and recycle existing equipment and components for mission-critical applications . With asset lifecycle management processes , organisations can assess their existing electrical assets and infrastructure – based on age , resilience and product lifecycle – to determine whether they ’ re current , end of life or obsolete .

118 June 2024