Author : Dr dillip anand
Keyword : Keywords: value recognition, reverse supply chain, sustainability, circular economy, economic growth.
Subject : Economics
Article Type : Original article (research)
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Abstract : Abstract Scientific discoveries and invention with economic feasibility had tremendously changed the life style of human beings, in parallel, created a huge pressure on nature. Continuous efforts had improved existing supply chain in terms of efficiency but increasing environment awareness attracts its concern for sustainability. From economic growth aspect, scope for survival of a supply chain is through demands which are now saturated in many cases. Consumerism is lifeline for economic activities but households is now full with most of the products and don’t provide space for new one. To remove the old one, reverse supply chain is required to be develop which recognize the value of old one and compensate accordingly so that willingness of pushing the used product increases. The end of life product required to be taken as a resource in reverse supply chain and accordingly valued. Being valued it will not be categorized as waste and thus will serve both the objective of increasing demand and preventing environmental degradation. The paper attempts a methodology for understanding the valuation of the product from producer and consumer point of view which will make a link with reverse supply chain and continue the cycle.
Article by : Dr Dillip Anand
Article add date : 2022-01-27
How to cite : Dr dillip anand. (2022-January-27). A study on value recognition for adaptability of circular economy in india. retrieved from https://www.openacessjournal.com/abstract/1009