Circular economy in the era of Industry 5.0
Conference Object Open access M33
2023
Milošević, Isidora 
Stojanović, Anđelka
Arsić, Sanela
Nikolić, Ivica
Rakić, Ana
University of Belgrade, Technical Faculty in Bor
Proceedings - 54th International October Conference on Mining and Metallurgy - IOC 2023, 18-21 October 2023, Bor Lake, Serbia
225
228
English
M33 - Conference paper at an international conference, printed in full
The circular economy is an emerging concept based on the circulation of materials in the economy, in which waste is recycled, reused, or repaired. By recycling waste, new raw materials are obtained from which products or certain materials can be made, and devices can have alternative uses. A circular economy is needed to change outdated business practices based on a linear production-consumer paradigm into creative, innovative semi and final products. Industry 5.0 puts people at the center of the production process and uses innovative technical advances to ensure a sustainable and resilient path to smart manufacturing. Therefore, the circular economy and Industry 5.0 lay the foundations of intelligent and sustainable production based on real-time data collection, contributing to society's smart industry. This paper examines whether companies need to transform from a linear production-consumer paradigm to a circular economy to achieve sustainable development in the era of the new industrial revolution known as Industry 5.0.
Circular economy, Industry 5.0, Sustainable development, Transform
ISBN
978-86-6305-140-9