life cycle management

The economic analysis of physical assets over the entire life cycle is essential in modern industry. Particularly, in investment decisions, not only the pure expenditure for the procurement is used. Life cycle costing considers the required investments of a production site’s life cycle as a whole. In order to reduce the life cycle costs it is necessary to identify, analyze and derive corresponding measures. In practice, the data tracking over several periods is challenging. The following paper shows how the new IT approach of cyber-physical systems can improve such data collection. Furthermore, it will be shown how this database supports future investment decisions as well as the selection of life cycle support services.

The need to continuously adapt production systems to changing market conditions has dramatically increased during the last years. In particular small and medium sized enterprises (SME) are faced with the challenge to develop lean production systems and often struggle to identify and apply appropriate production system design methods. This paper presents a concept that supports SME to identify suitable production system design principles and methods and to implement lean production systems with respect to strategy, product life cycle phases and external change drivers.