POTENTIAL OF THE CIRCULAR ECONOMY IN INDUSTRY

The purpose of this scientific article is to determine the development potential of the circular economy, as well as its role in Industry 4.0. The author explores new possible ways of development and interaction between these concepts, and also identifies difficulties and problems in the way of this interaction, based on world experience and analyzing scientific articles as part of a systematic review of the literature. The article explores the potential of opportunities for the use of circular technologies in industry, analyzes the concepts of the circular economy, and defines the symbiosis of factors that unite the circular economy and Industry 4.0. The works of domestic and foreign authors are analyzed; on their basis the principles of the circular economy are specified. The economic and social effects from the introduction of new technologies are shown. This article solves the scientific problems associated with the study of the impact of new technologies associated with Industry 4.0 and the circular economy on activities related to supply chains. It also explores the importance of suppliers in these chains and their impact on the sustainability of the entire chain. The results of the study can be useful for companies that want to improve their supply chain activities and become more competitive in the context of Industry 4.0 and the circular economy. The article concludes that this is a system that proposes the replacement of waste from open linear inefficient production cycles with closed cycles in which waste is minimized or converted into value items, contributing to increased productivity, optimizing the use of natural and human resources. The methodological approaches to the application of the circular economy in industry are specified. In general, the article is aimed at the development of scientific knowledge in the field of economics, technology and sustainable development, and may also be useful for specialists in these areas.

circular economy, industrial enterprise, concept, principles, approaches, Industry 4.0, resource saving, economic and environmental effects, business models, digital technologies, collection, analysis and integration of data

Makovetsky S. A. Potential of the circular economy in industry. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):200—204. DOI: 10.25683/VOLBI.2023.63.670.