TECHNOLOGICAL BASIS OF “INDUSTRY 4.0”
Transformation of industrial enterprises to a circular economy in the conditions of Industry 4.0
The transformation of industrial enterprises to a circular economy in the conditions of Industry 4.0 is a key step towards sustainable development and reducing the carbon footprint on the nature. The main objective of the circular economy is to reduce the waste and utilize resources as efficiently as possible by reusing, recycling and extending the life cycle of products. This transformation requires changes to both the production processes and the business models of enterprises. The transition of industrial enterprises to a circular business model will have a beneficial effect on the environment, increase their financial results and improve their competitiveness. The circular business model requires a rethinking of internal processes, products and strategies. This research aims to analyse the opportunities of industrial enterprises to rethink their product strategies, optimize resources, effectively manage waste and promote a circular organizational culture.