Product life cycle analysis: A goal programming approach

This paper considers the role of Life-Cycle Costing (LCC), Time-Based Competition (TBC), and other relevant goals at the three planning-horizon levels of strategic, intermediate, and tactical with respect to time and cost of products to market in a concurrent engineering environment. A conceptual framework has been developed in which the general areas of LCC and TBC are delineated. Based on the conceptual framework, the specific components of LCC and TBC at each level of planning are developed and presented. Subsequently, a Preemptive Goal Programming (PGP) model is developed. This model uses the components of LCC, TBC, and other relevant goals as the decision variables. Then, a case study of a company that has developed LCC and TBC is considered. The PGP model is then applied to the company's operations by using the actual data obtained from the company in order to capture the essence of the conceptual framework. This example explains and validates the PGP model in practice and provides managerial implications of the solution. Finally, a set of conclusions and an assessment of the results are presented.