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Assignment on Operations Management (Doc)

   

Added on  2019-10-18

13 Pages3194 Words150 Views
Running head: OPERATIONS MANAGEMENTOPERATIONSMANAGEMENTCircular Economy

1OPERATIONS MANAGEMENTTable of ContentsJob creation potential.......................................................................................................................2Benefits of circular economy..........................................................................................................3Concept of circular economy...........................................................................................................5Characteristics of the circular economy..........................................................................................5Operations in Terms of Circular Economy Aspects........................................................................8Implementation of Practices of Circular Economy by Dell.............................................................8The Economic, Social and Environmental Benefits the Company can Achieve.............................9

2OPERATIONS MANAGEMENTTHEORETICAL ASPECTSCONCEPT OF CIRCULAR ECONOMYThe circular economy is one of the linear and the regenerating economy which assist us ineliminating the waste and creating value for it. Basically, it talks about reducing the cost orminimizing the waste or leakages that are the biggest hurdle for generating the profit .There aretwo types of the cycle that are technical and biological cycle.As rightly said by various researchers that it is the never ending process and it helps in bringingthe positivity in the economy (Anderson, et al., 2007). It is one of the developmental ways whichhelp in minimizing the various risk and it help in making the economy efficient and effective. Italso helps in bringing productivity in the economy. It is a type of taking, make and dispose of atype of production.Circular economy helps us in removing the negative impacts from the economy and helps us inbuilding the economic, social and natural model. The circular economy is of the best rehabilitateand renews system.It help us in saving our values and reducing the compressibility and it also focuses on how toconserve our economy from the negative and the harmful impacts. It also helps in reallocatingthe resources, or we can say optimal utilization of the resources.CHARACTERISTICS OF THE CIRCULAR ECONOMY It is one of the best economies that help us in optimal utilization of the resources and also help increating that opportunity that helps us in bringing the efficiency in terms of the resources andhelp in diversifying the risk (Lewandowski, et al., 2016). It is one the new economic model thathelp in satisfying the needs of the humans, and it also focuses on the fair distribution of the

3OPERATIONS MANAGEMENTresources so that there is smooth functioning of the economy. The circular economy act as thepillars that provide us the platform to boost the economy and also boost the incentive structurethat helps us in ending with the fruitful results .In making the decisions, all the outcome are notequally calculated . Some impacts that needed to be calculated which are as follows:1)Those that are the long duration.2) Those that is in visible.3)Those that undercut the harmful space on the human 4)The outcomes of a particular thing are full of the uncertain events.5)There are the seven pillars that help in making the product, project, investment andbusiness efficient (Mentink, et al., 2014). It helps in resolving the problemssystematically and in the circular flow.Job Creation PotentialThe McKinsey, Sun, and Ellen MacArthur Foundation the major comparative study to time ofthe employment Influence of a circular economy evolution, with 65 studied academic papersrepresenting that “already reviewed points to a confident employment things going on in thecase that the circular economy is applied” this leaves effects on employment on greatlyattributable to enhance spending driven by the lower prices predicted across the sector and to thelabor` intensity of enhanced quality recycling actions and developed skilled jobs inremanufacturing. The employment chances are not limited to remanufacturing and enhancedwithin huge businesses; the story of employment in the circular economy is diverse and rich. Thejob will be produced by industrial sectors, by developing the local logistics, within medium andsmall enterprises and new service-based economy. In the analysis that conducted on Denmark,suggested that ten circular economy openings solved by 2035, 7,300-13,300 job parallel, or 0.4-

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