Abstract

Value Captured (VC) is the benefit obtained by stakeholders (especially companies) from a manufacturing business. In principle, VC can be obtained from Value Uncaptured (VU) which often appears in the company's manufacturing practices. This VU can take the form of inefficiencies (waste and by-products that are not used) in the company's manufacturing process. The study of VU has provided guidance on VU in the manufacturing industry. VUs that have been identified need to be changed to VCs. Meanwhile, to convert VU to VC, the right method is needed. The concept of Circular Economy (CE) offers methods in an effort to convert VU to VC. Some alternative methods in the CE context include: maintenance, reuse, recycling, etc. CE can solve this problem, while also providing environmentally friendly solutions. This study provides an overview of the potential of turning VU into VC with several alternatives offered by the CE concept. This study also provides some examples of CE implementations that have successfully solved problems in offering company VCs.

Original languageEnglish
Article number012049
JournalIOP Conference Series: Earth and Environmental Science
Volume472
Issue number1
DOIs
Publication statusPublished - 22 Jun 2020
EventInternational Conference on Innovation in Technology and Management for Sustainable Agroindustry, ITaMSA 2019 - Bogor, Indonesia
Duration: 9 Oct 201910 Oct 2019

Keywords

  • circular economy practices
  • value captured
  • value conversion
  • value uncaptured

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