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Liburkina L. M.

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Implementation of Circular Economy in Industry: A Literature Review
Melnychuk I. V., Voznyi V. Z.

Melnychuk, Ivanna V., and Voznyi, Vasyl Z. (2024) “Implementation of Circular Economy in Industry: A Literature Review.” Business Inform 6:145–152.
https://doi.org/10.32983/2222-4459-2024-6-145-152

Section: Ecology and Environmental Management

Article is written in Ukrainian
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UDC 316.422:330.342.2:911.3

Abstract:
The article provides a literary review of the works of scientists over the past few years, who have been studying the state and prospects for the development of the circular economy, in particular in industry. Analyzing global trends that show that the rational use of resources is vital today, it becomes clear that the use of circular economy instruments represents an approach that allows business, in particular industrial enterprises, to optimize the use of energy resources, material and financial resources. The article analyzes the works of scientists over the past few years in order to identify those instruments that, in their opinion, are effective and efficient for use by industrial enterprises. The authors have selected 12 scientific works of authors from around the world. Some comparative aspects, which they consider decisive in the application of the circular economy and its instruments, are allocated. In particular, some of the scientists see an increase in the efficiency of small and medium-sized enterprises through the use of circular economy instruments; some analyze the use of this conception for large enterprises and corporations, which is no less relevant. Analyzing the selected works, it can be seen that the effective implementation of the conception of circular economy is possible with the support of the authorities through fiscal policy, the financing of pilot projects to determine the most optimal use of individual instruments of the circular economy. Other authors view the implementation of the circular economy through solutions and innovative technologies. Yet another part of the authors emphasizes the need to use cloud technologies, the Internet of Things, the achievements of the 4th and 5th industrial revolutions. The methods used by scientists in the analysis are diverse: economic and mathematical apparatus, systematic review of scientific articles selected through various systems, as well as methods of expert assessments and questionnaires. On the basis of the carried out analysis, the main directions and approaches that stimulate and increase the efficiency of the use of the circular economy in industry have been allocated.

Keywords: circular economy, resource efficiency, innovation, industry.

Tabl.: 1. Bibl.: 1.

Melnychuk Ivanna V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Applied Economics, Ivano-Frankivsk National Technical University of Oil and Gas (15 Karpatska Str., Ivano-Frankіvsk, 76019, Ukraine)
Email: [email protected]
Voznyi Vasyl Z. – Postgraduate Student, Ivano-Frankivsk National Technical University of Oil and Gas (15 Karpatska Str., Ivano-Frankіvsk, 76019, Ukraine)

List of references in article

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