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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 ...
Fig.1 The International Product Life Cycle by Raymond Vermon. The development of an explicit technology gap model started with Ponser. The key for the theory is the rate of diffusion of technology. Moving on to 1966, Vernon further extended the technology gap model into the product life-cycle theory. [2]
Material flow analysis. Material flow analysis ( MFA ), also referred to as substance flow analysis ( SFA ), is an analytical method to quantify flows and stocks of materials or substances in a well-defined system. MFA is an important tool to study the bio-physical aspects of human activity on different spatial and temporal scales.
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 engineering is defined in the CIRP Encyclopedia of Production Engineering as: "the engineering activities which include the application of technological and scientific principles to manufacturing products with the goal of protecting the environment, conserving resources, encouraging economic progress, keeping in mind social concerns, and the need for sustainability, while optimizing ...
Manufacturing Execution Systems, known as MES are software programs created to oversee and enhance production operations. They play a role, in boosting efficiency resolving production line issues swiftly and ensuring transparency by collecting and analyzing real time data. MES systems effectively manage production resources like materials ...
Life-cycle assessment. Illustration of the general phases of a life cycle assessment, as described by ISO 14040. 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.
The technology life cycle ( TLC) describes the commercial gain of a product through the expense of research and development phase, and the financial return during its "vital life". Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) while in other ...