Examination of risks in circular supply chains using transition management lens: towards a circular economy in emerging markets

We perform a multidimensional and integrated investigation of risks associated with circular supply chains (CSC), drawing on Transition Management Theory (TMT). This research focuses on e-waste from the Indian electronics industry, a waste stream with significant recovery potential and one of the fastest-growing in emerging economies. Drawing on TMT, the study (i) institutionalises risk management activities in circular systems to operationalise the transition towards CE; (ii) quantifies CSC risks at operational, tactical, and strategic levels and measure the total risk exposure of CSCs; (iii) comprehensively cogitates the operational, socio-environmental, and financial implications of CSCs risks and (iv) considers uncertainty in operations research (OR) models by applying a fuzzy set theory, evidential reasoning algorithm, and expected utility theory based model to evaluate and profile the CSCs risks. The proposed model contributes to the application of decision analysis and risk analysis approaches in the sustainability domain and can efficiently model uncertain, subjective, and incomplete data. Our findings reveal that customers' reluctance to purchase reprocessed products represents the most critical challenge to the effectiveness of CSCs. Furthermore, contrary to conventional perspectives, organizations are strategically shifting toward adopting circular practices. However, they often lack the practical means and resources to implement these strategies effectively.