Impact of maintenance on circular economy

    Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientific

    Abstract

    Novel business models that leverage the largely untapped potential of circular economy are gradually emerging in several industries. The widespread use of circular economy has implications for asset management in manufacturing industry, as they bring new challenges and opportunities for managing and maintaining machinery and equipment. The importance of asset management and maintenance for the circular economy is studied in the Tekes funded "Data to Wisdom" project. Circular economy can be defined as a system which creates value by minimizing waste, energy and the use of natural resources. It also utilises solutions that aim at slowing, closing and narrowing loops of material and energy. These solutions include, for instance, long-lasting design, design for easy disassembly and maintainability, maintenance actions such as repair and refurbishing, reuse, remanufacturing and recycling. In this paper, we analyse circular economy archetypes from the life cycle management perspective. This is done by comparing circular economy archetypes against the fundamentals of asset management. Opportunities and threats produced by the circular economy for asset management and maintenance are addressed with real cases presented in Sitra's list of the most interesting companies in the circular economy in Finland.
    Original languageEnglish
    Title of host publicationProceedings of the 2nd Annual SMACC Research Seminar 2017
    EditorsJussi Aaltonen, Riikka Virkkunen, Kari T. Koskinen, Risto Kuivanen
    PublisherTampere University of Technology
    Pages20-23
    ISBN (Print)978-952-15-4040-0
    Publication statusPublished - 2017
    MoE publication typeB3 Non-refereed article in conference proceedings
    EventAnnual SMACC Research Seminar 2017 - Tampere, Finland
    Duration: 7 Nov 20177 Nov 2017
    Conference number: 2
    http://smacc.fi

    Seminar

    SeminarAnnual SMACC Research Seminar 2017
    CountryFinland
    CityTampere
    Period7/11/177/11/17
    Internet address

    Keywords

    • asset management
    • circular economy
    • overall equipment efficiency

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  • Cite this

    Valkokari, P., Hanski, J., & Ahonen, T. (2017). Impact of maintenance on circular economy. In J. Aaltonen, R. Virkkunen, K. T. Koskinen, & R. Kuivanen (Eds.), Proceedings of the 2nd Annual SMACC Research Seminar 2017 (pp. 20-23). Tampere University of Technology. http://smacc.fi/wp-content/uploads/2017/11/Proceedings-of-the-2nd-Annual-SMACC-reserch-Seminar-2017.pdf