Question
Framework of circular economy
Answer :
Word Count : 362
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The framework of circular economy is an approach to production and consumption that focuses on eliminating waste, maximizing resource utilization, and maintaining the value of products, materials, and resources for as long as possible. In Operations Management, the circular economy framework helps organizations redesign their operational processes to achieve sustainability, cost efficiency, and better resource management. The first element of the circular economy framework is designing out waste and pollution. Traditional production systems follow a linear model of take, make, and dispose, which leads to resource depletion and environmental damage. Circular operations focus on designing products and processes that minimize waste generation, use fewer harmful materials, and improve efficiency throughout the production
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