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Product service systems: business models towards a circular economy

In: Handbook of the Circular Economy

Author

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  • Sofia LingegÃ¥rd

Abstract

Product Service Systems, PSS, are emphasized as an approach to CE by reducing the resource use, without reducing the function of the product. PSS creates incentives for providers to increase resource efficiency, prolonging the product lifetime, optimize the use of products, and using remanufacturing strategies. Result-oriented PSS are the most promising, since the profit is connected to the result and not the product, stimulating resource efficiency. Implementation of PSS includes new ways of working both internally and with the supply chain, which can result in challenges and conflicts of interest. PSS has primarily been implemented in the private sector but has a significant potential in the public sector as well. PSS is not a panacea for a transition to circular economy, and not all PSS models are inherently sustainable, stressing the importance to distinguish between different uses of PSS and focus on those leading to more sustainable outcomes.

Suggested Citation

  • Sofia LingegÃ¥rd, 2020. "Product service systems: business models towards a circular economy," Chapters, in: Miguel Brandão & David Lazarevic & Göran Finnveden (ed.), Handbook of the Circular Economy, chapter 6, pages 61-73, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:18519_6
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