Increased global plastic consumption and production boosted the amount of end-of-life (EoL) plastic. Also, 90 % of plastic EoL is either landfilled or incinerated. These unsustainable EoL pathways impact the environment and human health and waste valuable materials. Thus, improvements to the existing recycling infrastructure for sustainable plastic management are needed to enhance plastic circularity. Therefore, this contribution addresses optimizing cost-effective pathways for plastic recycling within the supply chain. The research uses mathematical optimization and the P-graph theoretical framework to calculate recycling costs, encompassing both capital expenditure and operational expenditure for various pathways of plastic recycling. The proposed methodology is applied through a detailed case study in Miskolc, Hungary, revealing estimated recycling costs ranging from 54.9 to 59.28 EUR/ton. This finding provides crucial insights into the economic implications of diverse recycling methods. Also, the study highlights the P-graph model's untapped potential as a resource for decision-makers in plastic recycling, particularly the enumeration of options for further consideration. The work's utility and novelty lie in the model's capability to design cost-effective pathways, offering a tangible contribution to the plastic recycling supply chain. Finally, this contribution offers economic solutions needed to ensure cost-effective sustainable plastic management solutions.