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Whole life cost/costing 1) System for counting the cost of buying and operating a goods vehicle or plant over its whole life (including its value at final disposal) when making purchasing decisions, rather than just comparing initial prices of one vehicle against another. See also Tero-technology. Logistics service life-cycle 1) The period of time during which specialized logistics services go through the processes of conception, design, implementation, growth, maturity and then move towards decline, being subsequently replaced by more technologically-advanced concepts and systems. Life-cycle assessment 1) Assessment of the whole life of a product or business asset in terms of its development or its cost. In transport, the life-cycle cost of a vehicle is more important than its initial cost - eg the more expensive vehicle may be the cheapest in the long run. See also Tero-technology. LIFE 1) |
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