Topical Terminology > Life Cycle Cost
Life Cycle Cost
For Life Cycle Cost we have a term and definition in Supply Chain.
Life Cycle Cost (Supply Chain) 
In cost account, a product's life cycle is the period that starts with the initial product conceptualization and ends with the withdrawal of the product from the marketplace and final disposition. A product life cycle is characterized by certain defined stages, including research, development, introduction, maturity, decline, and abandonment. Life cycle cost is the accumulated costs incurred by a product during these stages.
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