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Product Life Cycle
(redirected from Production cycle)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.01 sec.
Product Life Cycle
The period of time from the introduction of a product to its decline and stagnation. Different analyses posit different numbers of stages in a product life cycle (usually four to five), but all emphasize that a product has a beginning, with technological innovation; a period of rapid growth; maturity and consolidation; and, finally, decline and possibly death. For example, in the video cassette recording (VCR) industry, the mid-1970s were a period of decentralized technological innovation, with VHS and Betamax formats vying for dominance. Later, video cassettes very quickly became a common household item. In the maturity phase, different companies selling VCRs attempted to corner a greater market share for their own (identical) versions of the product. Finally, VCRs declined and were eventually supplanted by DVD players. A product life cycle can be prolonged by several factors, including opening new markets to the product, finding new uses for the same product, or even attaining government subsidies. The concept of a product life cycle applies most readily to the sale of goods, and it is difficult to gauge how it works in a service economy.


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The proceeds would be used to decrease our bank debt, investment into the automatisation of the paint production cycle and modernisation," Orgachim investor relations director Irena Mitsova was quoted as saying.
The rise in demand means the 80-strong company has recruited a further five production workers and plans to operate a twoshift production cycle.
A top-tier supplier to Sikorsky Aircraft, Boeing, and the F-35 Joint Strike Fighter program is using on-machine probing capabilities, aided by Renishaw's Productivity+ software, to reduce production cycle times by as much as 50 percent.
 
 
 
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