Products & Services

Abstract

Companies can build circular product and service portfolios by focusing on initiatives across four key areas: design, use, lifetime extension, and end-of-life. All are interlinked, requiring holistic strategies to create truly circular products used indefinitely with a zero (or ideally a net positive) impact. Entirely new supply chains or new approaches to product design and development may be needed. Focusing on products and services offers significant opportunity to drive strategic growth, brand value, customer engagement, and long-term competitiveness by lowering costs and ensuring an indefinite supply of raw inputs. Companies can take a stepped approach to prioritizing their circular product and services initiatives, tailoring opportunities to fit strategy, market demand, and technical readiness. Achieving product circularity is challenging and complex. It demands leadership, innovation, strong cross-functional alignment, and the creation of supporting ecosystems of suppliers and partners.