Data Analytics for a Circular Economy

♻ How data analytics can support the implementation of a Circular Economy?
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Article: www.samirsaci....
🚀 A circular economy is an economic system in which resources are used, reused, and recycled in a closed loop, instead of being extracted, used, and discarded as waste.
The aim is to maximize the usage of resources and to recover and regenerate products and materials at the end of each life cycle.
❓ How can you use Data Analytics to support a Fast Fashion Retailer to implement a Circular Economy?
The aim is to maximize resource use and recover and regenerate products and materials at the end of each life cycle.
The old clothes you return are collected and sorted into three different categories.
- Wearable clothes: they will be resold as second-hand clothing.
- Reused clothes: that will be turned into other products, such as “remake collections” or cleaning clothes.
- Recycle clothes: that will be shredded into textile fibres and used to make for example insulation materials
This requires a major transformation of your logistics and supply chain operations to include this process in the value chain.
In this video, we will see how data analytics can support this transformation by providing visibility and diagnostic and collaboration tools.
📺 In this tutorial, we cover:
- Introduction to Circular Economy: 00:22
- Data from Supply Chain Systems: 01:06
- Data for Traceability: 02:02
- Supply Chain Network Optimization: 02:38
- Data for Performance Management: 03:05
Music I use: Bensound
License code: LOKS8RZTSNIRZ6ZY
#SupplyChainManagement, #circulareconomy , #sustainability , #Python, #DataScience, #dataanalytics , #supplychainanalytics

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