WHAT IS IT? S THE CIR Circular supply chain is a solution concept from Accenture that generates a new UPPL kind of value in the global producer supply chain by going beyond track and trace in providing consumers with a mechanism to reliably identify products, prove authenticity and enable new channels of engagement. Accenture’s vision of the circular supply chain is one that combines supply chain, blockchain, identity, biometrics and payment capabilities to connect base-of-the- pyramid producers to consumers. This combination brings financial benefit to the Y CHAIN producer/grower and empowers the consumer to be in control. It encourages more sustainable production methods and choices, extends retailer and manufacturer CUL visibility into what customers value and will purchase, and offers various benefits such as waste reduction, inventory optimization and streamlined data reconciliation. The solution’s aim is to enable consumers to reward producers following responsible and sustainable protocols with a “tip” through direct payment to the beginning of the supply chain—directly to producers. These producers in turn are able to gain direct AR income and improve their livelihoods. This direct connection between consumers and producers will redirect incentives to the beginning of the supply chain to promote more sustainable and inclusive growth with net new money and no impact to the existing supply chain processes or actors. Importantly, the solution enables greater financial inclusion, made possible through the rise of digital technologies and innovation, and helps drive new business models that are tapping into diverse consumer markets and providers. This A FIT FOR RETAIL MANUFACTURING opportunity makes the market more accessible to producers and helps bring them into the global economy. Greater financial inclusion also enables a new generation Circular supply chain enables companies in the retail and manufacturing of producers. Reaping the economic benefits opens doors to other opportunities industries to manage inventory and distribution more effectively and emerging, such as access to more formal credit as new producers build a financial reduce waste by accurately planning and consolidating inventory. With credit history and gain access to agriculture insurance. better insight on what consumers demand, producers can choose to Circular supply chain also pulls back the curtain and overcomes the challenges produce less, rather than let materials go to waste. The information that of limited product provenance visibility with full visibility. Additionally, a circular comes from blockchain can enable better planning and utilization of supply chain provides companies with the opportunity to drive greater positive resources from a demand perspective. Blockchain can provide greater societal impact by improving livelihoods and increasing their green credentials. efficiency by reducing some of the redundancies in data management For producers, it provides ways to engage in the global economy, and encourage and sharing. It can also capture the authenticity of products, confirm labor sustainable practices by creating compelling incentives. Plus, the outcomes sources and enable traceability and corporate targets around their supply support the United Nations SDGs promoting sustainable land use, responsible chain. Green credentials matter in the new economy and help to serve eco- consumption and production, and ending poverty. The solution holds the potential conscious consumers. to be scaled to other use cases with alliances, peers and partners. CONTENTS 77