Lifecycle management (LCM) is a business management approach that can be used by all types of enterprises to improve their sustainability. This is an approach that can be used equally by both large and small companies, with the aim of ensuring more sustainable value chain management. LCM can be used to identify, organize, analyze, and manage product-related information and activities to achieve continuous improvement over the product life cycle.
Life cycle diagrams are a qualitative tool that provides a better understanding of the product life cycle and some of the sustainability benefits and impacts associated with each phase. It involves drawing the process tree or “mapping” of the product life cycle by asking a series of questions.
It is another qualitative tool that helps users think about the sustainability, impact, and benefits of each phase of the life cycle. It can be used in conjunction with life cycle diagrams to build knowledge about product life cycle impacts and benefits, as well as opportunities to enhance sustainability through better design.
Life cycle assessment is an internationally recognized and standardized technology to assess the environmental aspects and potential impacts of products throughout their life cycle. A complete LCA is particularly useful if you need to accurately assess the environmental impact of a product or system. However, because of the need to collect detailed inventory data for each phase of the life cycle, this can be time-consuming, resource-intensive, and costly.
Because of the time and effort required, it is not feasible to use LCA as a routine diagnostic tool. To overcome this problem, a number of simplified tools have been developed to help designers evaluate design scenarios during the conceptual phase. Compared with LCA software, these software have a more user-friendly interface and are tailored for specific purposes, such as evaluating packaging systems, material specifications, and energy impacts.
Acting as a well-established tool, LCM has been widely use to maximize sales, greater profitability, intensify competitive edge and retain market share. LCM planning is no doubt continue to be the most optimal and popular strategy for addressing the declining R&D productivity and stricter reimbursement demands, especially in the increasingly competitive market. We offer fully LCM services from early development to mass clinical and commercial production. Using the BOC Sciences helps to gain an understanding of the appropriate selection, adoption and usage of today’s most important Life Cycle Management tools.