Component Engineering Services

Product Life Cycle Management

A product life cycle is the amount of time a product goes from being introduced into market until it's taken off the shelves.

Remarkable life cycle stages are as follows :

Introduction

Part will be introduced into the market by manufacturer after designing and proto stage is completed .

Active

Part will be active in the production and available in the market.

Not recommened for new designs

Part will be in production but not recommened for new designs.

End of Life

Part will not be in production stage and will be discontinued once the available stock is cleared.

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discontinued

Part will be no longer available in the market and also decrease in demand.


The main strategy of product life cycle management is to prevent line stoppage due to obsolescence and run production line in an uninterrupted manner.



BENEFITS

  • ✔    Last time buy management.
  • ✔    Product change notifications.
  • ✔    More accurate and timely request for quote generation.
  • ✔    Improved forecasting to reduce material costs.