How digitization of supply chains can boost circular economies

Read Time:3 Minute, 31 Second


How digitization of supply chains can boost circular economies

Digital innovation and the circular economy are kind of symbiotic in nature. In times of increasing internet proliferation, it’s hard to imagine any circular economy initiative that isn’t aided through technology. While there can be a number of ways in which digitization can positively impact the circular economy, here are the top three:

1. Digitization can help organizations make better, more sustainable decisions.

Digital technologies enable information to travel alongside the product. This enables businesses to capture, store, and analyze consumption patterns, which in turn helps organizations make better decisions. For example, research shows that 70% of greenhouse gas emissions (GHG) are related to material handling and use. If businesses have insights into how full their aircraft, ship, or truck is, they can determine in real time how efficient their delivery will be. This translates to better efficiency, lower fuel costs, shorter delivery cycles, and reduced GHG. Thyssenkrupp, one of the world’s leading elevator manufacturers, installed a cloud-based predictive maintenance system on 130,000 of its elevators worldwide. Its sensors collect health data of its components, systems, and performance. This helps Thyssenkrupp provide better service, extended elevator uptimes, and longer product lifespans.

2. Digitization can help unlock greater value across entire supply chains. Traditionally, most businesses are focused on connecting data and devices across their customer base. Digitization can be used to unlock a number of isolated parts, partners, and consumers from across the entire value chain. For instance, a raw material supplier can tap into the stocking system of a manufacturer (via APIs) to proactively validate if they are running out of certain raw materials. Once raw materials have reached end-of-life, manufacturers can leverage digital technologies to gauge whether the products have reached sufficient intrinsic value to be returned to them. This creates an opportunity for businesses to be more efficient, less resource intensive, and create less waste and emissions in the process. An increasing number of digital platforms are promising to create tighter value-chain integrations and assist various manufacturers in transitioning to a circular economy model. On the consumer end, digital marketplaces are helping to create more sustainability-consciou s consumers.

3. Digital supply chains need to be reliable and secure. Supply chain digitization offers the promise of greater speed, efficiency, visibility, and control. However, the increased prevalence of APIs means that an organization’s attack surface increases. In the same way that a single container ship trapped in the Suez Canal can interrupt the world economy, an API that is unavailable or untrustworthy can disrupt important supply chain processes. As organizations digitize, they need to take the measures necessary to protect their digital assets.

How Citrix is ​​engaging the circular economy

Citrix technologies empower individuals and businesses to work from anywhere and embrace adaptable work models. These technologies allow organizations to embrace a secure hybrid work model. This also means that organizations using Citrix can dramatically reduce commuting emissions while meeting employee needs for flexibility, given how 27 % of US emissions derive from transportation sources and office-related commuting.

Workers using Citrix solutions can use low-energy devices and use those same devices for longer, reducing cost and emissions while keeping hazardous waste out of landfills. This supports two key principles of a circular economy with device reuse and waste reduction.

Citrix technologies also play a vital role in facilitating a seamless move to energy efficiency and lower carbon cloud computing. Citrix’s App Delivery and Security solution protects and scales APIs that are so vital to a streamlined and efficient digital supply chain. Protecting the digital backbone is an important step in moving to a more circular economy.

The shift to the circular economy will not be easy, but it will be rewarding. Customers are looking for businesses that provide great service, but also share their core values. Companies that leverage digitization to embrace circularity will be seen as visionary, and as such will be rewarded with deeper customer relationships and loyalty. As the old saying goes, what goes around, comes around.

This content was produced by Citrix. It was not written by MIT Technology Review’s editorial staff.


go to see more here in tech news

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %
We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. View more
Cookies settings
Accept
Privacy & Cookie policy
Privacy & Cookies policy
Cookie name Active

Who we are

Suggested text: Our website address is: https://updatednews24.com.

Comments

Suggested text: When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection. An anonymized string created from your email address (also called a hash) may be provided to the Gravatar service to see if you are using it. The Gravatar service privacy policy is available here: https://automattic.com/privacy/. After approval of your comment, your profile picture is visible to the public in the context of your comment.

Media

Suggested text: If you upload images to the website, you should avoid uploading images with embedded location data (EXIF GPS) included. Visitors to the website can download and extract any location data from images on the website.

Cookies

Suggested text: If you leave a comment on our site you may opt-in to saving your name, email address and website in cookies. These are for your convenience so that you do not have to fill in your details again when you leave another comment. These cookies will last for one year. If you visit our login page, we will set a temporary cookie to determine if your browser accepts cookies. This cookie contains no personal data and is discarded when you close your browser. When you log in, we will also set up several cookies to save your login information and your screen display choices. Login cookies last for two days, and screen options cookies last for a year. If you select "Remember Me", your login will persist for two weeks. If you log out of your account, the login cookies will be removed. If you edit or publish an article, an additional cookie will be saved in your browser. This cookie includes no personal data and simply indicates the post ID of the article you just edited. It expires after 1 day.

Embedded content from other websites

Suggested text: Articles on this site may include embedded content (e.g. videos, images, articles, etc.). Embedded content from other websites behaves in the exact same way as if the visitor has visited the other website. These websites may collect data about you, use cookies, embed additional third-party tracking, and monitor your interaction with that embedded content, including tracking your interaction with the embedded content if you have an account and are logged in to that website.

Who we share your data with

Suggested text: If you request a password reset, your IP address will be included in the reset email.

How long we retain your data

Suggested text: If you leave a comment, the comment and its metadata are retained indefinitely. This is so we can recognize and approve any follow-up comments automatically instead of holding them in a moderation queue. For users that register on our website (if any), we also store the personal information they provide in their user profile. All users can see, edit, or delete their personal information at any time (except they cannot change their username). Website administrators can also see and edit that information.

What rights you have over your data

Suggested text: If you have an account on this site, or have left comments, you can request to receive an exported file of the personal data we hold about you, including any data you have provided to us. You can also request that we erase any personal data we hold about you. This does not include any data we are obliged to keep for administrative, legal, or security purposes.

Where we send your data

Suggested text: Visitor comments may be checked through an automated spam detection service.
Save settings
Cookies settings