BENEFITS FROM USING PRODUCT LIFE CYCLE COSTING
Some of the following benefits of using product life cycle costing are:
- it results in earlier actions to generate revenue or to lower cost than otherwise might be considered
- better decision should follow from a more accurate and realistc assessment of revenues and costs, at least within a particura life cycle stage
- promote long-term rewards in contrast to short-term profitability rewarding
- provides an overall framework for considering total incremental costs over the life span of a product.