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e. A generic lifecycle of products. In industry, product lifecycle management ( PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. [1] [2] PLM integrates people, data, processes, and business systems ...
Life cycle assessment ( LCA ), also known as life cycle analysis, is a methodology for assessing environmental impacts associated with all the stages of the life cycle of a commercial product, process, or service. For instance, in the case of a manufactured product, environmental impacts are assessed from raw material extraction and processing ...
The 'bathtub' refers to the shape of a line that curves up at both ends, similar in shape to a bathtub. The bathtub curve has 3 regions: The first region has a decreasing failure rate due to early failures. The middle region is a constant failure rate due to random failures. The last region is an increasing failure rate due to wear-out failures.
Product life-cycle theory. The Product Life Cycle Theory is an economic theory that was developed by Raymond Vernon in response to the failure of the Heckscher–Ohlin model to explain the observed pattern of international trade. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come ...
Rogers ' bell curve. The technology adoption lifecycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. The process of adoption over time is typically illustrated as a classical normal distribution or "bell ...
Software development. The V-model is a graphical representation of a systems development lifecycle. It is used to produce rigorous development lifecycle models and project management models. The V-model falls into three broad categories, the German V-Modell, a general testing model, and the US government standard. [2]
The Hayes-Wheelwright matrix is a four-stage model; each stage is characterized by the management strategy implemented to exploit the manufacturing potential. In stage 1, the production process is flexible and high cost, and becomes increasingly standardize, mechanized, and automated, resulting in an inflexible and cost-efficient process.
Product life cycle can be viewed as an important source of investment decision for the company. If a company or brand wants to make sure that its products are successful, it needs to study the product life cycle to analyze market attractiveness and supplement the conclusion before it launches a new product or enters a new market. Product life ...