Development of circular economy model using Industry 4.0’s machine learning techniques to improve performance metrics of MSMEs

The development of a circular economy (CE) model is increasingly being recognized as a way to improve the performance metrics of Micro, Small, and Medium Enterprises (MSMEs). A CE is an economic model that aims to minimize waste and pollution by maintaining resources in use for long time. This paper provides a comprehensive overview of the benefits of a CE for MSMEs, including reduced costs, increased competitiveness, and improved environmental performance. The paper also outlines the steps that need to be taken to develop a CE model using Industry 4.0’s machine learning algorithms for MSMEs. The paper concludes that the development of a CE model has the potential to significantly improve environmental and other performance metrics of MSMEs and should be a priority for policymakers and stakeholders in the business community.