Product life‐cycle management plan
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Schaltegger et al. (2003, p. 86) argue that if lease rental is related to the function of the product instead of its ownership, there is a stronger incentive for the lessor to provide innovations that improve the function for the customer, i.e. the lessee. Function improvement involves not only the design of products and components in robust, modular, standardized forms for ease of disassembly and enabling longevity, but also consistent customer support and services covering the useful life of products. This long‐term responsibility enforces producers to have a product life‐cycle management plan. Responsibility for the services, such as maintenance and repairs, upgrade, replacement and associated logistics, and responsibility for the actual product after take back, such as reduce, reuse and recycle decisions, remains with the producer/lessor throughout the life of the product (Bennett and Graedel, 2000).