Sustainable Circular Business Model for Transparency and Uncertainty Reduction in Supply Chain Management

Abstract

Circular Supply Chain Management (CSCM) incorporates the economy concept into supply chain concepts, which gives the supply chain sustainability domain an innovative and convincing viewpoint. The challenging factors in the circular economy are cooperation, trust, and transparency. Therefore, to achieve sustainable results, collaboration, and openness between organizations within networks and value chains are required. This paper explores the sustainability success using the Sustainable Circular Business Model (SCBM) to incorporate the principle at an operational level and suggest a structure for combining Circular Business Model (CBM) and CSCM for sustainable growth. The proposed structure shows how various circular business structures power the global supply chain in multiple loops. The circular business models differ according to the difficulty of the Circular Supply Chain (CSC) and the value proposition. Proposed SCBM shows that circular market and supply chain aid in reaching goals for sustainability has been discussed in this research.