Could You Explain The Concept Of Life Cycle In Operations Management?

The concept of life cycle in Operations management is applied in the production process. Production process can be of any type like batch production, mass production etc. Now during a production process outputs are produced from inputs and each step of the production process resembles with the life cycle concept. In this way production process have various steps starting from birth to death.

Life cycle concepts generally exhibits five stages including Introduction or Birth, Growth, Maturity and Death. Similarly in a product life cycle there is an introduction phase, then growth and life cycle continues till death. The companies can analyze the life stage of their product and can make and implement strategies.

Therefore, concept of life cycle in operations management relates to performance, cost, decision making, and feedback control system.