The total-life-cycle costing approach is a comprehensive way for managers to understand and manag... more The total-life-cycle costing approach is a comprehensive way for managers to understand and manage costs through a product's design, development, manufacturing, marketing, distribution, maintenance, service, and disposal stages. It refers to the process of managing all costs along the value chain. Using this approach can lead to substantial cost savings. By some estimates, 80-85% of a product's total life costs are committed by decisions made in the RD&E stage, underscoring the importance of managing all costs along the value chain.
The total-life-cycle costing approach is a comprehensive way for managers to understand and manag... more The total-life-cycle costing approach is a comprehensive way for managers to understand and manage costs through a product's design, development, manufacturing, marketing, distribution, maintenance, service, and disposal stages. It refers to the process of managing all costs along the value chain. Using this approach can lead to substantial cost savings. By some estimates, 80-85% of a product's total life costs are committed by decisions made in the RD&E stage, underscoring the importance of managing all costs along the value chain.
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