Procurement, production, life-cycle costing technique. Cost to buy, install, operate, maintain and upgrade, and waste during the asset’s economic life are tracked to determine the lowest cost of ownership of a fixed asset as a part of procurement. As an integral part of tero-technology at each stage of the value chain during the product’s estimated life cycle duration in manufacturing, production costs plus generated product revenue plus expenses incurred are tracked.
What is LIFE CYCLE COSTING?
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