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PDSVISION has recently participated in the EU Commission funded Horizon 2020 project studying circular economy in context of two demonstrations. The project is called Resource-efficient Circular Product-Service Systems a.k.a ReCiPSS.
PDSVISION Finland Managing Director Perttu Korpela tells us why participating is important to him and the group, as we continue our objective of helping customers overcome the challenges of Digital transformation.
The Circular Economy
The Circular economy poses a need for enterprises to reinvent their business. The business can no longer be based solely on one-directional logistics and value chains. Traditionally a product’s value increases during manufacturing and shipping processes, in the beginning of product’s life cycle. The value slowly decreases during operation phase and might be zero or even negative (waste) when product is decommissioned after it has reached the maximum operation time. Many enterprises have built their business models based on maximal efficiency in this one-way value stream.