Circular Economy in Procurement

Circular economy in procurement refers to the practice of purchasing goods and services in a way that minimizes waste and maximizes resource efficiency. Instead of following a traditional "take-make-dispose" model, circular procurement focuses on sourcing products that are designed for reuse, recycling, or repair. This approach aims to extend the lifecycle of materials, reduce environmental impact, and promote sustainability. By integrating circular principles into procurement strategies, organizations can contribute to a more sustainable economy, reduce costs, and support innovation while ensuring that resources are used responsibly and kept in circulation as long as possible.