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Philips is using the circular economy to differentiate itself from its competitors. With new propositions such as Light as a Service, it can create additional value for customers with a unique sustainability message. Products are designed for disassembly and serviceability. Let's take the Philips Pacific LED gen4 as an example. Philips is adopting innovative business models and maximising the lifetime value of their products and solutions. From a brand and innovation perspective, the Circular Economy gives Philips the opportunity to show thought leadership in an area closely related to the company’s mission and vision and its innovation skills.
At Philips Healthcare, sustainability is an integrated part of Refurbished Systems.A far more effective use of materials enables greater value creation. By definition it is a driver for innovation in the areas of material-, component- and product reuse, as well as … A circular economy requires innovation in the areas of material, component and product reuse, as well as related business models.
logistics and financing strategies.
The ‘circular economy’ is a concept which uses natural resources in a more sustainable and intelligent way. Philips and the circular economy "For a sustainable world, the transition from a linear to a circular economy is essential. Philips Circular Economy Nigel Salter, Salter Baxter (2015). All Rights ReservedThe New Plastics Economy is an ambitious, three-year initiative to build momentum towards a plastics system that works.The Ellen MacArthur Foundation works in Education & Training, Business & Government, Insight & Analysis, Systemic Initiatives and Communications to accelerate the transition to a circular economy.The circular economy is a key driver of innovation and business value creation. An action-oriented set of methods, mindsets and thought starters to help innovators design circular solutions that are fit for the future.© Copyright 2017 Ellen MacArthur Foundation. It also set out how the company is partnering with … Just by rethinking designs and processes, many products can be made more eco-friendly, and even be equipped with additional features, at no extra cost. "Philips is working closely with the Foundation across these focus areas: We don’t regard this as a cost factor, but as a contributor to our bottom line and competitive position. By definition it is a driver for innovation in the areas of material-, component- and product reuse, as well as new business models such as solutions and services. We don’t want it.
A far more effective use of materials enables greater value creation. Today’s economy relies heavily on extracting raw materials from the earth and processing these into parts and products, which are eventually discarded. These are the winners of the future!”The Circular Economy drives new business models, solutions and services, shifting from ‘transactions’ to ‘relationships’ via service and solution models.
Circular business models – such as offering customers access to, rather than ownership of products – not only make it easier to engage and retain customers, they also open up new opportunities for growth and cost savings, reduce resource risk, and facilitate smart asset management.The go-to online location for news and insight on the circular economy and related subjects.As a focused leader in health technology, Philips has a clear vision:"For a sustainable world, the transition from a linear to a circular economy is essential. In such an economy, the lower use of raw materials allows us to create more value.
A circular economy aims to decouple economic growth from the use of natural resources and ecosystems by using those resources more effectively. This page outlines Philips’ view and approach to circular economy, and sets out the company’s ambitious objectives for 2020.
Read how Philips is leading the way in promoting a new philosophy which encourages more effective and efficient use of resources. By using materials more effectively, economic growth will eventually be decoupled from the use of natural resources and ecosystems. A circular economy aims to decouple economic growth from the use of natural resources and ecosystems by using those resources more effectively.