Closed Loop Supply Chains Definition
A closed loop supply chain is a type of supply chain in which materials are recovered and reused instead of being disposed of as waste. In a closed loop system, waste is not seen as a useless by-product but as a valuable resource that can be used to create new products.
Materials such as metals, plastics, and glass can be recycled and used to make new products. This reduces the need for virgin materials, which saves energy and resources. It also reduces the amount of waste sent to landfills.
Closed loop supply chains are becoming increasingly important as we strive to create a more sustainable economy. They help us reduce our reliance on fossil fuels, minimize waste, and protect our environment.
