A company can best reduce the life cycle costs of product and services by managing the revenues and costs associated with which function of the value chain?

Question

Quizplus · Accepted Answer

The design function is the best function to reduce the life cycle costs of product and services as it has the greatest impact on product and service cost and quality. By designing products and services with the whole life cycle in mind, a company can reduce costs associated with production, distribution, and customer service. This approach can also increase customer satisfaction and loyalty, leading to increased revenues.

A Company Can Best Reduce the Life Cycle Costs of Product