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In our blog series to date, we have explored the impact that technology has on increasing efficiency/removing wastage, as well as removing Carbon from the atmosphere.

All of which represent innovations within Engineering that can impact Net Neutrality goals.

However, we have not yet explored how all of this remains (and get ready for some serious usage of this word in the next 5 minutes) sustainable.

In exploring this, we’re going to look at the Circular Economy and its long-term impact in utilising the resources that we have around us while negating the need for mass production of materials that pose a long-term hazard to our ecosystem.

What is the Circular Economy?

A circular economy is effectively minimising waste then utilising wastage from any process and using it for other purposes. It’s not a new concept, but sometimes in order to innovate you need a fancy new title to invigorate interest and Circular Economy is exactly that!

Now my focus for this series is in looking at the technology that support sustainability so I will predicate this by saying that for anything to constitute a true economy, a societal consensus and commitment needs to form, which (I believe) is more a legislative issue than it is an engineering one. What I aim to do now, however, is to have you walk away having read this all the more enlightened as where the opportunities to make our world more sustainable, alongside some of the tech and pioneering companies that contributing.

So, we’re going to talk about new technologies in the two key areas, both minimising and maximising wastage (see what I did there?).

Minimising Wastage

There are 7 types of manufacturing waste (we’re talking from the product being ready from manufacture to being put into use).

• Inventory

• Transportation

• Motion

• Waiting

• Overproduction

• Overprocessing

• Defects

I’ve highlighted 3 in the list here as these are the three that I’ll be talking about, mostly because these are the areas that modernisation / technology can have an immediate impact on. So, let’s jump in.

Minimising Inventory Wastage

Let’s talk Artificial Intelligence, I’ve mostly been using it to try and think of Paradoxes that’ll break ChatGPT, but it turns out there are other uses (who knew?). Artificial Intelligence and Machine Learning is the answer to minimising waste in inventory management, being able to accurately predict exactly how much stock you will need based on supplier demand is crucial to solving this problem. Understanding inventory management based on sales is one thing but being able to lock into Macro and Micro market trends is another entirely.

The elephant in the room here is Guiness, at the time of writing this we are in between Christmas and the Cheltenham festival, the Guiness refill zone, but even a company with the deserved reputation of quality that Guiness owners Diageo experience missteps in supply and demand. Having a product that is just so popular is one thing, having a product that doesn’t shift as expected is an entirely, potentially more damaging problem.

With AI now developing to such an extent that it can spot market trends both on the local and global scale, integrating and automating supply chains has become a reality for many companies. Integrating data from social media; news; sales reports and customer reviews, information can be collated to more accurately predict real time need in an associated industry.

Vortexa - https://www.vortexa.com/

Focussing on the Energy Trade, Vortexa provide real time data analytics to optimise energy flows and maximise efficiency in the transport of products on water. Understanding Port Insights (minimising traffic); supply and demand trends and storage solutions to minimising the fuel and time wastage when transporting goods across the ocean.

Pharmovo - https://www.pharmovo-ai.com/

By utilising AI, this is a product that will allow companies to predict demand for certain drugs up to 12 months in advance utilising both social, pharmaceutical and commercial reporting. In doing so ensuring that stock and inventory is planned accordingly and reducing manufacturing and product wastage as a result.

FourJaw - https://fourjaw.com/

A standout success story in effective use and integration of Data to optimise both product and energy efficiency. Whether this is involved in something as straightforward as switching the lights on and off during the correct periods, forecasting manufacturing demand or optimising workflows and minimising machinery downtime, FourJaw have the case studies to prove that efficiencies can be found throughout the supply chain and manufacturing process. This is an incredible company that offer a “plug and play” solution that can be fully integrated into Manufacturers across industry to minimise energy, time and inventory wastage.

This is a new field within Engineering technology and signifies a significant step in the digitalisation and modernisation of Engineering practices. From FEED through to installation and continuous care, Technology is showing insights into how we can minimise our carbon footprint throughout the circular economy. This was intended to cover both minimising wastage and maximising the usage of waste, however I have already taken enough of your time today and the tech that is available for maximising waste is probably a separate blog with many other interesting startups in the field.

So, between now and then, I suggest you go and check out this list.

https://www.seedtable.com/best-data-and-analytics-startups-in-united-kingdom

If you are interested in utilising AI to understand how you can develop better efficiencies in wastage, then there is an AI that can cover every conceivable process from Engineering to Consumer.

At iO Associates, we’re passionate about connecting forward-thinking engineers with cutting-edge opportunities in industries that are driving sustainable change. Whether you're an engineering professional looking to innovate in carbon efficiency, or a company seeking top talent to push the boundaries of sustainability, we can help.

Get in touch with our Engineering team today to explore new opportunities in this evolving space by clicking here.

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