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

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Listed:
  • Ovidiu-Iulian BUNEA

    (Bucharest University of Economic Studies, Romania)

  • Răzvan-Andrei CORBOȘ

    (Bucharest University of Economic Studies, Romania)

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.

Suggested Citation

  • Ovidiu-Iulian BUNEA & Răzvan-Andrei CORBOȘ, 2022. "A Creative Thinking Approach to the Role of Procurement as a Competitive Advantage in the Context of the Circular Economy Transition," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 7(3), pages 423-437, October.
    • Handle: RePEc:rom:merase:v:7:y:2022:i:3:p:423-437
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    References listed on IDEAS

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    1. Walter R. Stahel, 2016. "The circular economy," Nature, Nature, vol. 531(7595), pages 435-438, March.
    2. Razvan-Andrei CORBO? & Ovidiu-Iulian BUNEA & Ruxandra-Irina POPESCU, 2022. "Organizational Readiness For Procurement 4.0 In Circular Economy: The Moderating Role On Competitiveness," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 14(2), pages 5-16, June.
    3. Ovidiu-Iulian BUNEA, 2021. "A Bibliometric Analysis on the Link between Circular Economy and Supply Chain," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 22(4), pages 555-569, October.
    4. Dimitri,Nicola & Piga,Gustavo & Spagnolo,Giancarlo (ed.), 2006. "Handbook of Procurement," Cambridge Books, Cambridge University Press, number 9780521870733.
    5. Cristina Cauti?anu & Laura Asandului & Mioara Borza & Ciprian Turturean, 2018. "Quantitative Approach to Circular Economy in the OECD Countries," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(48), pages 262-262.
    6. repec:aud:audfin:v:20:y:2018:i:48:p:262 is not listed on IDEAS
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    More about this item

    Keywords

    procurement; circular economy; competitive advantage; creative thinking;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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