Opportunity to reduce costs in life cycle cost of products

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Reference no: EM132296980

1. AFTER realizing true costs in the production stage, the design stage provides the second great opportunity to reduce costs in the life cycle cost of products.

2. Among the reasons a firm utilizes leases are, they are not interested in ownership, and the firm wants freedom and flexibility to proceed with their core business without the cost of ownership and maintenance of heavy equipment.

3. The length of a financial lease is usually longer than the life of the equipment.

4. Value engineering is a systematic study of every element of cost in a material item of equipment, service, or construction project, to ensure that every element of cost fulfills a necessary function and at the lowest possible total cost.

Reference no: EM132296980

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