Life Cycle Management (LCM) is a systematic approach to managing a product's entire life cycle, from initial concept through design, production, use, and eventual disposal. It aims to optimize resource use, minimize environmental impact, and enhance product quality. By considering each stage, companies can make informed decisions that benefit both the business and the planet. LCM involves various strategies, including sustainability practices, product design improvements, and regulatory compliance. It encourages collaboration among different departments, such as engineering, marketing, and supply chain management, to ensure that all aspects of a product's life cycle are effectively managed and aligned with organizational goals.