Key Strategies for Circular Economy Implementation in Electronics

Shared economy model for electronics

A shared economy model facilitates in generating revenue by provisioning services rather than selling products and this model shifts conventional producer-consumer relationships as well as re-evaluates conventional value chains. For example, organizations can lease electronics to consumers and as soon as the device reaches its maximum life span, the manufacturer can recycle the product, maintain as well as refurbish the particular device. Furthermore, by investing in durable as well as modular design strategies, organizations can increase/improve the product value by simplifying disassembly & recyclability of materials as well as capitalize from the recovery of previous metals.

Digital tools could facilitate organizations source important materials from secondary markets as well as forecast supply & demand dynamics in order to support recyclable materials sourcing processes. Also, leveraging secondary markets is an highly important and effective strategy for organizations for sourcing scrap metals from other sectors that include aerospace or advanced manufacturing, to create, for instance, carbon – fiber – reinforced polycarbonate bases which can be leveraged for assembling new laptops. The most important advantage of utilizing recyclable as well as modular designs in a shared model will not only help in optimizing product retrieval efficiencies but also increase their life-spans.

Fairphone one of the circular economy company is challenging the electronics sector by offering ethically sourced & repairable smartphones.