Purpose: The purpose of this paper is to discuss recent trends in the circular economy and investigate how value stream mapping (VSM) can be extended to more fully include some of the critical aspects of circular economy.
Design/methodology/approach: The findings are based on previous research that has explored the usage of VSM to include aspects of the environment and sustainability aspects. These ideas are then expanded to new ways to use VSM by mapping value of a product as it is; used, maintained, re-used, remanufactured, recycled, incinerated or used for landfill. The authors test out this approach through application in the waste management sector to identify possibilities for improvement and new business opportunities in what now is considered waste.
Findings: This paper introduces an expanded version of VSM that refines the existing Lean toolbox for exploring value and mapping value in a circular economy.
Practical implications: The aim of this paper is to expand the relevance and practical value of VSM as the world economy increasingly moves toward a circular one.
Originality/value: Today, VSM is a widespread method within Lean manufacturing that scrutinizes value creation within an organization or within a value chain. This paper describes how VSM can be refined to explore value streams in the afterlife of a product and explore waste as a resource utilization opportunity.