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Circular Economy Model Enhanced by Intelligent Assets from Industry 4.0: The Proposition of an Innovative Tool to Analyze Case Studies

Author

Listed:
  • Jessica Rossi

    (Mechanical Industrial Plants in DIN, Department of Industrial Engineering, University of Bologna, 40136 Bologna, Italy)

  • Augusto Bianchini

    (Mechanical Industrial Plants in DIN, Department of Industrial Engineering, University of Bologna, 40136 Bologna, Italy)

  • Patricia Guarnieri

    (Business Department, University of Brasília, 70.910-900 Brasilia, Brazil)

Abstract

Although the circular economy (CE) is recognized as a source of value creation, there is a huge gap between the vast concept of CE and its practical applications. Particularly, the lack of information and performance indicators, in terms of economic, environmental and social aspects, does not allow for the assessment of the level of circularity of the products, processes or companies. Further development of other circular activities can be limited for this reason. In addition, intelligent assets arising with the digital transformation within the “Fourth Industrial Revolution (I4.0)” can support CE to provide these lacking aspects. Thus, the objective of this paper is to highlight how and how much the circular business models are enhanced by intelligent assets from I4.0, considering several case studies found in the literature, and through the application of an assessment tool with secondary data from the selected case studies. According to the tool, the CE principles are extended to the entire product lifecycle, from product design to product utilization, within the transition to novel business strategies. Two of the considered case studies are represented in the assessment tool, as examples, to demonstrate how intelligent assets can support circular economy in the design, assessment and comparison of circular initiatives. The visualization of existing innovative business models based on CE and enhanced by intelligent assets allows for the complete and effective evaluation of materials, products, assets and processes, due to the fact that information and indicators can be collected to measure and monitor circular efficiency.

Suggested Citation

  • Jessica Rossi & Augusto Bianchini & Patricia Guarnieri, 2020. "Circular Economy Model Enhanced by Intelligent Assets from Industry 4.0: The Proposition of an Innovative Tool to Analyze Case Studies," Sustainability, MDPI, vol. 12(17), pages 1-22, September.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:17:p:7147-:d:407448
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    References listed on IDEAS

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    1. Qinglan Liu & Adriana Hofmann Trevisan & Miying Yang & Janaina Mascarenhas, 2022. "A framework of digital technologies for the circular economy: Digital functions and mechanisms," Business Strategy and the Environment, Wiley Blackwell, vol. 31(5), pages 2171-2192, July.
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    3. Kayikci, Yasanur & Kazancoglu, Yigit & Gozacan-Chase, Nazlican & Lafci, Cisem & Batista, Luciano, 2022. "Assessing smart circular supply chain readiness and maturity level of small and medium-sized enterprises," Journal of Business Research, Elsevier, vol. 149(C), pages 375-392.
    4. Zhen Liu & Jing Liu & Mohamed Osmani, 2021. "Integration of Digital Economy and Circular Economy: Current Status and Future Directions," Sustainability, MDPI, vol. 13(13), pages 1-27, June.
    5. Augusto Bianchini & Jessica Rossi, 2020. "An Integrated Industry-Based Methodology to Unlock Full-Scale Implementation of Phosphorus Recovery Technology," Sustainability, MDPI, vol. 12(24), pages 1-17, December.
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    7. Sehrish Atif & Shehzad Ahmed & Muhammad Wasim & Bassam Zeb & Zeeshan Pervez & Lorraine Quinn, 2021. "Towards a Conceptual Development of Industry 4.0, Servitisation, and Circular Economy: A Systematic Literature Review," Sustainability, MDPI, vol. 13(11), pages 1-27, June.
    8. Christos Spandonidis & Dimitrios Paraskevopoulos & Christina Saravanos, 2023. "Neighborhood-Level Particle Pollution Assessment during the COVID-19 Pandemic via a Novel IoT Solution," Sustainability, MDPI, vol. 15(10), pages 1-16, May.
    9. Zain Anwar Ali & Mahreen Zain & M. Salman Pathan & Peter Mooney, 2024. "Contributions of artificial intelligence for circular economy transition leading toward sustainability: an explorative study in agriculture and food industries of Pakistan," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(8), pages 19131-19175, August.
    10. Daniela Sani & Sara Picone & Augusto Bianchini & Fabio Fava & Patricia Guarnieri & Jessica Rossi, 2021. "An Overview of the Transition to a Circular Economy in Emilia-Romagna Region, Italy Considering Technological, Legal–Regulatory and Financial Points of View: A Case Study," Sustainability, MDPI, vol. 13(2), pages 1-23, January.
    11. Sahar Ahmadzadeh & Tahmina Ajmal & Ramakrishnan Ramanathan & Yanqing Duan, 2023. "A Comprehensive Review on Food Waste Reduction Based on IoT and Big Data Technologies," Sustainability, MDPI, vol. 15(4), pages 1-19, February.
    12. Abderahman Rejeb & Karim Rejeb & Suhaiza Zailani & Yasanur Kayikci & John G. Keogh, 2023. "Examining Knowledge Diffusion in the Circular Economy Domain: a Main Path Analysis," Circular Economy and Sustainability, Springer, vol. 3(1), pages 125-166, March.
    13. Sehrish Atif, 2023. "Mapping circular economy principles and servitisation approach in business model canvas: an integrated literature review," Future Business Journal, Springer, vol. 9(1), pages 1-21, December.

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