Shifting to a leasing ownership model: the benefits to buyer and supplier

buyer and supplier shaking hands

Leasing, in which a person rents rather than buys a product from a company, has been heralded as a new circular ownership model with the potential to extend products’ useful lifetime, improve resource efficiency, reduce virgin resource intake, and reduce value and material losses to the economy.

That all sounds great for the environment and the economy, but what about the costs of setting up and maintaining a model of sales that requires complex contract and production coordination, maintenance costs, and recovery methods? What benefit does leasing rather than selling products bring to a business? And is renting rather than owning something that customers want?

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3 Examples of Using Waste as a Resource

Using waste as a resource, rather than disposing of it as waste, is what makes a circular economy circular. It takes the two ends of a linear product lifecycle – namely resource sourcing at the start and product disposal at the end – and links them together into a closed loop, where the materials contained in end-of-life  products are extracted and used as resource inputs to make new products.

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