A business-oriented approach to the product life cycle

Abstract

Cultural and public attitudes as well as new business approaches and life cycle concepts have impacted and will continue to impact not only matters of consumption and use but indeed almost every aspect of the product life cycle. Ecological awareness, globalization and excess manufacturing capacity along with intensive competition are the main factors that have led to what is no less than a revolution in design and manufacturing. This revolution is enabled by improved information technology. This paper explores and briefly analyzes the forces driving the significant changes in the market that have affected not only design and manufacturing but rather the entire product life cycle. Moreover, it identifies the expected changes and business opportunities in manufacturing due to new legislation requiring manufacturer accountability during the entire life cycle.