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Analytical and Decision Modeling Approaches in Circular Economy: A Review

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Advances in Industrial and Production Engineering

Part of the book series: Lecture Notes in Mechanical Engineering ((LNME))

Abstract

With the increasing concerns of the world towards environmental, social and economic factors, a multi-lateral attitude towards sustainable development and management policies is much needed now, hence a shift of the linear economy to the circular economy, famously known as closed-loop supply chain, is being exercised. The increase in exploration by academicians and industrialists to address various implementation issues and challenges is now vital and transition in many industries has been initiated. Numerous decision-making approaches are evaluated for the major domains of industry, namely, optimization of activity, processes, coordination, network design and marketing issues. With the categorization of the closed-loop supply chain as circular economy and emission reduction, the three factors (environmental, social and economic factors) are evaluated single-handedly. The present paper attempts to discuss various decision approaches and analytical models realized, evaluated and implemented by industries after careful assessment, based on the respective and customized network design models.

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Author information

Authors and Affiliations

  1. Amity University, Noida, Uttar Pradesh, India

    Priyanshu Sharma, Bhupendra Prakash Sharma & Umesh Kumar Vates

  2. Birsa Institute of Technology, Sindri, Jharkhand, India

    Sanjay Kumar Jha

  3. Manipal University, Jaipur, Rajasthan, India

    Shyam Sunder Sharma

Authors
  1. Priyanshu Sharma
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  2. Bhupendra Prakash Sharma
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  3. Umesh Kumar Vates
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  4. Sanjay Kumar Jha
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  5. Shyam Sunder Sharma
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Corresponding author

Correspondence to Priyanshu Sharma .

Editor information

Editors and Affiliations

  1. Department of Mechanical Engineering, Amity School of Engineering and Technology, Noida, Uttar Pradesh, India

    Rakesh Kumar Phanden

  2. Department of Mechanical Engineering, Amity School of Engineering and Technology, Noida, Uttar Pradesh, India

    K. Mathiyazhagan

  3. Department of Mechanical Engineering, Amity School of Engineering and Technology, Noida, Uttar Pradesh, India

    Ravinder Kumar

  4. Department of Mechanical Engineering, University of Aveiro, Campus Santiago, Aveiro, Portugal

    J. Paulo Davim

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Sharma, P., Sharma, B.P., Vates, U.K., Jha, S.K., Sharma, S.S. (2021). Analytical and Decision Modeling Approaches in Circular Economy: A Review. In: Phanden, R.K., Mathiyazhagan, K., Kumar, R., Paulo Davim, J. (eds) Advances in Industrial and Production Engineering. Lecture Notes in Mechanical Engineering. Springer, Singapore. https://doi.org/10.1007/978-981-33-4320-7_5

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  • DOI: https://doi.org/10.1007/978-981-33-4320-7_5

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-33-4319-1

  • Online ISBN: 978-981-33-4320-7

  • eBook Packages: EngineeringEngineering (R0)

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