Use an enterprise blockchain solution to extend the capability of the digital marketplace, to allow production waste to be offered for sale to third parties.
Manufacturing and distributing products results in a significant amount of waste and by products. Although lean manufacturing strategies go some way to reducing waste, they don’t consider the most efficient way to exploit the sale of waste to unlock revenue.
There are several ways to capitalise on production waste, most of which sit within the concept of by-product synergy (BPS). Which consists of taking the waste stream from one production process and selling it to third parties to make a new product. What hasn’t been fully explored is how to make the process of ‘selling’ efficient.
The cost associated with waste management, accounting, and disposal are estimated to be in the region of 5-10% of total production costs. The implications also stretch beyond financial into environmental and regulatory.
An extension of the enterprise blockchain digital marketplace allows the broadest reach to potential purchasers of production waste.