Companies see benefits from evaluating product's complete life cycle, said Kevin Lyons in Bloomberg

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Date: 
Monday, November 27, 2017
Location: 
New York, NY

Bloomberg

Tom Szaky, the founder of TerraCycle, a New Jersey-based garbage startup, has built a $24 million business around the belief that everything is recyclable. He's convinced some of the world's largest brands and retailers, including Procter & Gamble Co., Colgate-Palmolive Co. and Office Depot Inc., that there's value in spending to keep garbage out of landfills.

The challenge is to make this lifestyle broad and reflexive. It starts with an evaluation of cost during a product's complete life cycle, said Kevin Lyons, a professor of supply chain management at Rutgers Business School.

A consumer pays twice: to buy and to dispose. A manufacturer can reduce, or even eliminate that second spend, and reap its own savings with thoughtful early design.

"There are companies that are now seeing there is a value-add to doing what Tom is asking them to do," Lyons said.

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TAGS: Corporate Social Responsibility Kevin Lyons Supply Chain Management