Bringing circularity principles center stage for competitive advantage
Manufacturers are fast turning to sustainability to gain competitive edge, particularly as investors focus on environmental, social, and governance (ESG) performance and higher market valuation for sustainable products.
To keep up with sustainability regulations and ensure climate change resiliency, manufacturers are increasingly focusing on waste management, biodiversity conservation, carbon management, and more. Driving a sustainability agenda goes beyond meeting ESG objectives. It also helps manufacturers gain competitive advantage, enhance their brand image, and improve their service offerings through sustainably sourced and produced products. Currently, the reporting of sustainability and circularity initiatives in manufacturing organizations are limited to disclosing ESG performance and these reports are not mandatory and are riddled with numerous loopholes.
To address these challenges, we believe a sustainable by design strategy can help manufacturers transition from the traditional ‘take, make, dispose’ linear economy to a circular one. Adapted from Neural ManufacturingTM, this paper explores why a sustainable by design enterprise must embrace intelligent and insight-driven models, powered by connected value chain operations and purpose-centric ecosystems.