resell

Circular Economy Podcast Episode 34 Noreen Kam and Michael Brown of LUP Global

Episode 34 – Noreen Kam and Michael Brown of LUP Global

Catherine Weetman talks to Noreen Kam and Michael Brown about the circular asset management solution they’ve developed for LUP Global’s customers.
We hear about the opportunities for companies to reduce their capex, improve the performance and lifetime cost of equipment, and to recover value from the equipment at the end of its service period. Michael explains how this approach is normal in the airline industry, where often the airline doesn’t own anything – the plane, the engines, even the seats. Everything is owned, provided and maintained by the suppliers – you may have heard of the Rolls Royce example, selling power by the hour so you purchase the performance of the engine, instead of buying the engine itself.
Noreen and Michael realised that many other industry sectors don’t use these approaches, and so they are helping companies benefit from circular asset management, starting with laboratory equipment.

reuse reselling sharing key tool in circular economy

Why reuse is #1 tool in circular economy toolkit

The circular economy’s ‘inner loop’ – reuse, reselling and sharing – forms the core of winning circular strategies. We explore examples of each, look at why you might be missing some of the benefits, and remind ourselves why recycling should be a lower priority.

The bottom line is this: if you aren’t working out how to tighten the loop in your business ecosystem, with strategies to reuse, resell and share, then you’re missing out on the biggest wins.
Even worse, you’re leaving value on the table for your competitors.