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1 Minute Idea: The World Is 9% Circular, Our Global Engine Is Stuck in Reverse

[vc_row][vc_column][vc_column_text] According to the 2019 Circularity Gap Report[1]: Since last year’s first Circularity Gap Report (2018), the problems of a linear economy, like greenhouse gas emissions and increasing resource extraction, persist and continue to impact the global economy. The concept of a ‘circular economy’ can be...

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1 Minute Idea: Cost avoidance is better than cost reduction

[vc_row][vc_column][vc_column_text] According to Arno Hiller [1], an authority in Product Cost Management: Controlling costs is a challenge for manufacturing companies. The two strategies for controlling costs are “cost avoidance” and “cost reduction.” Most companies focus on cost reduction, instead of cost avoidance. Solely focusing on cost...

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