Consumption of goods and services and production
across the industries is the most visible disasters as the volume of waste
generation is more. Holistic approach would give a better strategy to adopt
3R’s (reduce, reuse, recycle) to have a significant approach. Proactive
approach relates with reducing the waste from the industries whereas reactive
approach deals with reuse or recycles of waste products. Reverse supply chain
process involves in reactive approach .Such that firm achieve a profitable
position in remanufacturing the products and recycle of other products. In USA
environment legislation impose charge on original equipment manufacturers (OEM)
for recycle products depending upon on market share. This has led OEM to
generate less wastage from the firms. Remanufactured products offered in low
price which attracts the segment of customers who are interested in buying new
products. Switching of previous new product to remanufactured products results
in cannibalization effect. The fact that individual firms are formulating
positive attempt towards waste management.
Waste management program will provide significant effect on
recyclers and remanufacturers to build long term contracts with waste
generators as they supply adequate resources for their activities. This made
the industries financially stable for day to day operations. Financial
incentives are provided by the states for waste management programs such as
subsidies, low interest loan etc. Structuring of waste management
activities should be taken into account for a circular economy. Such processes
improved the economic stability, functional and value added service.
Integrating a waste management system will take long time horizon to enhance
rather than focus on immediate action. Finally R’s in waste management strongly
influence the individual to have leadership, analytical and strategic
perspectives.