How the Circular Economy Approach is Driving Change in the Networking Industry
The circular economy concept was born as an alternative to the traditional methods of manufacturing. Previously, items were designed in such a way that after use, they can only be disposed of and replaced with new ones. The circular economy aims for lesser waste and disposal through manufacturing products that can be reused, refurbished, or repurposed.
Today’s Original Equipment Manufacturers (OEMs) tend to push the traditional approach that overuses resources. Ideally, most products are manufactured for consumption followed by disposal. With finite natural resources already stretched, there is a need to rethink newer manufacturing methods.
Writing off IT and telecom equipment after they have undergone extensive use isn’t the right idea. These products can still be reused, largely reducing e-waste. Did you know, more than 44.7 million tonnes of e-waste are generated annually, bringing about untold environmental degradation and health hazards? The circular economy approach is therefore a handy alternative that takes an environmentally-friendly, profitable approach to manufacturing.
What is the Circular Economy?
The circular economy is an industrialized system of producing reusable commodities. It comprises repurposing, sharing, refurbishing, reusing, and recycling existing materials for the longest time possible. For instance, IT inventory is designed in such a way that it can be refurbished or reused.
This model chips in the Networking and IT industry in that there can be more innovative reusable IT products. Since Waste Electrical and Electronic Equipment (WEEE) forms a huge chunk of trash that leads to environmental degradation, the circular economy aims to correct that.
How the Circular Economy Supports the Main Aims of Networking and IT industry
The CE approach supports IT businesses (ISPs, networking equipment manufacturers, IT contractors, and their clients) in many ways. Its minimal waste approach is key to reducing waste and earning companies some profits. Some of the benefits of circular IT economy include;
Waste Management through Refurbishing, Reusing, and Repurposing
The CE model works towards e-waste management and reduction by manufacturing equipment that can be repaired, reused, repurposed, and refurbished. Instead of just writing off their equipment after use, they can avail them for reuse, and recover a part of their original investment.
This reduces the e-waste that would have otherwise caused environmental pollution and increased health risks to the citizens. Since the circular economy aims to reuse products, both disposable waste and waste generated during the creation of new equipment are significantly reduced.
Affordability of Products
The circular economy provides IT enthusiasts and consumers with a steady supply of refurbished networking equipment at very affordable prices, as an alternative to new ones amidst tight budgets. Therefore, the consumer can save on costs, whereas the disposer/seller recovers the maximum residual value for products they no longer need. This is a win-win situation.
Maximizing the Life of IT Hardware
Through the circular economy, products are maintained and repaired to maximize their lifetime. This reduces the need for regular replacements. Original equipment manufacturers advocate for disposal of the IT equipment and hardware, whereas the circular economy looks to extend their longevity by repurposing and refurbishing. Products are designed in such a way that they can withstand the test of time.
Buying Unwanted Materials Hence Freeing up Space
The circular economy facilitates the purchase of used and unused IT hardware that is no longer needed, relieving companies of the storage burden. Purchase of circular IT equipment also relieves the seller of any costs that would have been required to dispose of the products. The extra space saved through reducing disposal can be used for other purposes, especially if space is rented.
Redesigning out Waste Leads to More Innovative Products for IT and Technology Businesses
The circular economy model offers an opportunity for innovation, as manufacturers want to design unique products to serve various purposes. Right from the manufacturing line, the product is designed in such a way that it can serve another purpose after the intended one. This tech leads to highly innovative products as manufacturers try various ways to make products highly reusable.
Circular Economy Can Be a Source of Profit IT and Networking Companies
With the circular economy, IT companies could make profits from disposing IT equipment. Companies can get connected to buyers who want equipment they can refurbish or reuse. Since most companies have tons of products for disposal, they can easily make profits rather than disposing for nothing.
By selling already used circular IT equipment, business owners recover a part of their purchasing costs. Companies can also save waste disposal fees as they don’t have to use traditional disposal methods that tend to be costly.
Partnering with REFHUB is the Ultimate Move towards Circular Economy
At REFHUB, we embrace the circular economy by offering a platform where individuals and organizations can dispose of IT hardware for repurposing and refurbishing. There are so many circular IT providers aspiring to buy used network hardware as an alternative to acquiring new ones.
We conduct our business under the guidance of the Circular IT economy. We have simplified that through our 3-R principle:
Recover- We strive to acquire used and unused technology hardware from owners, whether individuals or companies looking to dispose of their products and repair them for resale.
Repurpose- We provide a platform where willing buyers can purchase fully functional IT equipment at relatively lower prices, allowing them to maximize the product’s potential fully.
Reduce- When a product has completed its lifespan, we at RefHub, offer recycling services as well as safe disposal of the equipment, thus contributing towards the reduction of e-waste.
We connect willing buyers and sellers looking to dispose or buy network hardware from the following categories:
· Networking and Security
· Fiber optics
· Power and backup
· Wi-Fi and wireless systems
· Voice
· Surveillance and security
In this approach, businesses recover maximum residual value from their products while buyers acquire IT hardware at affordable prices. Furthermore, e-waste is significantly minimized.
You can also be a part of our incredible platform by choosing to sell and offload your used network and IT equipment on our website. Contact us today to connect your company with circular economy players from proper equipment disposal!
