What is Product Lifecycle Management?
Product lifecycle management is the complete scope of a product from conception to disposal. Born out of the automobile industry, the practice of product lifecycle management serves to boost efficiency, profit, and drive growth. It is aided greatly by the advent of technologies like Computer Aided Design, Global Communications, and Advanced Logistics.
Product End-of-Life: The Neglected Step
Of late, the focus of product lifecycle management has turned to product end of life. As products get cheaper and more widespread, they are also discarded quicker ending up in our landfills and waste centers. Just last year alone it is estimated that 50 Million Tons of electronic waste reached end of life.
“What alot of people don’t think about is where all of their old products actually end up. If your not recycling with a responsible company, often the result isn’t good” -Industry Respresentative
This is why we call the product end of life the “neglected step”
Retailers, manufacturers, and corporations alike must begin to focus on the end of life for products. While they are responsible for record sales, high volumes of users, and growing market shares, they must also account for the costimplicit costs products put on the environment.
Why else is product end of life management important? It simply looks good for your company. All around the globe, large manufacturers and retailers are pairing with recyclers with endorsements and partnerships.
Good Practice, Will Soon Be The Law
In states nationwide, action is underway to assure a more comprehensive product end of life. The map below, from Electronics Recycling gives a good look at states that have already passed end of life product laws, in this case particular to e waste.
If companies are not convinced that establishing sound end of life options is good for the corporate image, then eminent legislation will surely cure that. All around the country states are drafting legislation for manufacturers and distributors alike to responsibly recycle either obsolete or expired products. Oftentimes this is called product recall recycling or Asset Management and it is a sound way for corporations to find responsible recycling outlets .