Green Supply Chain: Life Cycle Management
Green Supply Chain revolutionizes the company; indeed, throughout supply chain, Green Supply Chain planning enables to minimize the environmental impact of the overall endeavour while still achieving the same results.
Everything is the Life Cycle Management:
Life Cycle Management (LCM) is an integrated approach to managing the total life cycle of products and services for sustainable consumption and production. LCM takes the concept of life cycle engineering (LCE) further as the focus is not only on a particular product, but uses the activities of all those partners in the supply chain who actually manufacture and service the products.
Life Cycle Management need not be expensive or complex to implement and also LCM helps companies to ensure that their choices are ecologically sound. In addition, it helps to identify opportunities to design better products, make cost reductions, gain a stronger competitive advantage, have superior strategic decision-making, identify new business opportunities and markets, improve relationships with key stakeholders and can even manage any inherent risks in the end-to-end supply chain. We will examine these aspects below.”
This life cycle management brings several advantages in terms of business competitiveness, reduced costs or new business opportunities and market, while leading to sustainable development.
Learn more about these benefits and goals of Life Cycle Management in Green Supply Chain – An action manifesto.