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Academic enquiry into the product lifetimes of electrical and electronic equipment was undertaken in 2000 by Cooper and Mayers [21] who conducted household interviews and focus groups to establish the age at discard (actual product lifetime) and expected lifetimes for 17 products. Since this study, work has been undertaken by other academics ...
Product lifecycle management (PLM) should be distinguished from 'product life-cycle management (marketing)' (PLCM). PLM describes the engineering aspect of a product, from managing descriptions and properties of a product through its development and useful life; whereas, PLCM refers to the commercial management of the life of a product in the ...
The ESM&R approach directly links to the concept of the equipment life-cycle which demands continuous control and a historical record – from the initial forecasting and sale of the equipment, through to shipping, renting, servicing, overhaul and final disposal. Thus heavy equipment, just like any product life-cycle has its own life-cycle. The ...
Handbooks of failure rate data for various components are available from government and commercial sources. MIL-HDBK-217F, Reliability Prediction of Electronic Equipment, is a military standard that provides failure rate data for many military electronic components. Several failure rate data sources are available commercially that focus on ...
The difference between service life and predicted life is most clear when considering mission time and reliability in comparison to MTBF and service life. For example, a missile system can have a mission time of less than one minute, service life of 20 years, active MTBF of 20 minutes, dormant MTBF of 50 years, and reliability of 99.9999%.
That is, the mark-down in value of the asset should be recognised as an expense in the income statement every accounting period throughout the asset's useful life. [1] The useful life of the asset is determined by taking into account expected usage, physical wear and tear, technical or commercial obsolescence arising from changes in production ...
In economics and industrial design, planned obsolescence (also called built-in obsolescence or premature obsolescence) is the concept of policies planning or designing a product with an artificially limited useful life or a purposely frail design, so that it becomes obsolete after a certain predetermined period of time upon which it ...
Maintenance, and hence maintenance engineering, is increasing in importance due to rising amounts of equipment, systems, machineries and infrastructure. Since the Industrial Revolution , devices, equipment, machinery and structures have grown increasingly complex, requiring a host of personnel, vocations and related systems needed to maintain ...