Name: Prakash Divakaran, Vandana Mishra Chaturvedi
Country: India

Year: 2024
Volume: Volume-11, Issue-2 (July-December)
Page Number: 106-113

The traditional linear economic model, which is characterized by a strategy that prioritizes taking, creating, and disposing of things, has led to significant environmental degradation and the depletion of resources. This is the outcome of a strategy that promotes taking, making, and disposing of things. In recent years, there has been a growing interest in the concept of circular economies and closed-loop supply chains as sustainable alternatives. These concepts have been gaining traction because of the potential benefits they provide. These ideas are gaining popularity due to the fact that they have the ability to cut down on waste. This article's objective is to provide a comprehensive analysis of the ideas behind a circular economy and closed-loop supply chain methods, with a particular emphasis on the part that these strategies play in reducing the amount of waste produced while simultaneously improving the amount of resource use. The scope of this study encompasses a wide range of interrelated subtopics, including as product design, reverse logistics, remanufacturing, and recycling. According to the results of the study, critical steps towards the accomplishment of a sustainable and resource-efficient future include the acceptance of the principles of a circular economy and the application of techniques for closed-loop supply chain approaches.
Keywords — Circular Economy, Closed-Loop Supply Chains, Waste Reduction, Resource Maximization, Sustainable Development