Optimizing sustainable supply of essential materials in a circular economy: a CoCoSo-SWARA based approach.

The increasing demand for rubber tires in India, coupled with unsustainable resource extraction practices, threatens the availability of essential materials for the rubber tyre sector. This study addresses a critical knowledge gap by identifying and prioritizing the most concerning issues in the continuous supply of essential materials faced by the Indian rubber industry. The research then explores circular economy strategies as potential solutions to mitigate these issues. This research employs a hybrid multi-criteria decision-making approach to analyze critical material supply issues and evaluate potential circular economy strategies based on their impact. This approach combines stepwise weight assessment ratio analysis for efficient weight allocation to criteria and the combined compromise solution method to identify optimal CE strategies. The research identifies price volatility as the most significant challenge impacting the availability of essential material in the Indian rubber industry and recommends the RRR (recycling, reusing, and remanufacturing) strategy as the most effective approach to counteract it. This novel approach provides a framework for the Indian rubber industry to achieve sustainable essential material management through circular economy principles. By implementing these recommended strategies, the industry can build a more resilient and environmentally responsible supply chain, ensuring long-term growth and environmental sustainability.

https://doi.org/10.1007/s13243-024-00141-8