A Creative Thinking Approach to the Role of Procurement as a Competitive Advantage in the Context of the Circular Economy Transition

Ovidiu-Iulian Bunea () and Răzvan-Andrei Corboè˜ ()
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Ovidiu-Iulian Bunea: Bucharest University of Economic Studies, Romania
Răzvan-Andrei Corboè˜: Bucharest University of Economic Studies, Romania
Authors registered in the RePEc Author Service: Răzvan Andrei Corboș

Management and Economics Review, 2022, vol. 7, issue 3, 423-437

Abstract: The purpose of this research was to apply creative thinking to understand the role of procurement as a competitive advantage in the context of the circular economy. We expected to discover a number of broad competitive advantage elements arising from procurement actions in the context of the circular economy transition. Businesses should adjust their strategic emphasis and begin to introduce environmentally friendly goods into their product lines, according to the conclusions of our creative thinking approach employing the six thinking hats. Furthermore, when we transition to circular economy concepts, quality control procedures and manufacturing standards should be prioritized. Companies should collaborate with strategic suppliers to acquire old items from other industries that would otherwise be considered waste, as long as they can provide the necessary value.

Keywords: procurement; circular economy; competitive advantage; creative thinking (search for similar items in EconPapers)
JEL-codes: M10 Q56 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:rom:merase:v:7:y:2022:i:3:p:423-437

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