| Title | A total life cycle cost model (TLCCM) for the circular economy and its application to post-recovery resource allocation |
|---|---|
| ID_Doc | 4402 |
| Authors | Bradley, R; Jawahir, IS; Badurdeen, F; Rouch, K |
| Title | A total life cycle cost model (TLCCM) for the circular economy and its application to post-recovery resource allocation |
| Year | 2018 |
| Published | |
| Abstract | The consumerism-driven, consumption-based linear economy is leaving a trail of economic, environmental, and societal challenges in its wake. The Circular Economy, a new economic framework, can be combined with the 6R-based elements of sustainable manufacturing in order to relieve these challenges by establishing a closed loop material flow. To realize this ideal state, a total life cycle cost model (TLCCM) is needed to serve as the primary engineering economic model. Therefore, a framework for such a model is presented that aims to aid stakeholders in making decisions regarding all aspects of the product life cycle. It is intended that these stakeholders use this model in order to challenge the status quo of costly "green"-centric decisions and demand innovation in the overall process in order to realize a net positive total life cycle cost benefit alongside a balanced Triple-Bottom-Line (TBL). To illustrate how the TLCCM can be applied, an application is explored that uses the model to determine post-recovery resource allocation into three closed-loop streams (Recycling, Rernanufacturing, and Reusing). An outlook for future research is then presented. |
Similar Articles
| ID | Score | Article |
|---|---|---|
2375
|
Jawahir, IS; Bradley, R Technological Elements of Circular Economy and the Principles of 6R-Based Closed-loop Material Flow in Sustainable Manufacturing(2016) | |
| 40
|
Lieder, M; Rashid, A Towards circular economy implementation: a comprehensive review in context of manufacturing industry(2016)Journal Of Cleaner Production, 115, | |
| 20915
|
Thakker, V; Bakshi, BR Toward sustainable circular economies: A computational framework for assessment and design(2021) | |
| 416
|
Dragomir, VD; Dutescu, A New business models in the Circular Economy(2022)Proceedings Of The International Conference On Business Excellence, 16, 1 | |
| 4633
|
Lieder, M; Asif, FMA; Rashid, A; Mihelic, A; Kotnik, S Towards circular economy implementation in manufacturing systems using a multi-method simulation approach to link design and business strategy(2017)International Journal Of Advanced Manufacturing Technology, 93, 5-8 | |
| 2028
|
Walker, S; Coleman, N; Hodgson, P; Collins, N; Brimacombe, L Evaluating the Environmental Dimension of Material Efficiency Strategies Relating to the Circular Economy(2018)Sustainability, 10, 3 | |
| 28587
|
Nag, U; Sharma, SK; Kumar, V Multiple Life-Cycle Products: A Review of Antecedents, Outcomes, Challenges, and Benefits in a Circular Economy(2022)Journal Of Engineering Design, 33.0, 3 | |
| 8592
|
Saidani, M; Kim, H; Yannou, B; Leroy, Y; Cluzel, F Framing Product Circularity Performance For Optimized Green Profit(2020) | |
| 1194
|
Bressanelli, G; Saccani, N; Pigosso, DCA; Perona, M Circular Economy in the WEEE industry: a systematic literature review and a research agenda(2020) | |
| 2184
|
Mukherjee, PK; Das, B; Bhardwaj, PK; Tampha, S; Singh, HK; Chanu, LD; Sharma, N; Devi, SI Socio-economic sustainability with circular economy - An alternative approach(2023) |