Model for simulation of life cycle costs at the stage of product development

Abstract

© 2017, Vienna University of Technology. All rights reserved. Managing the costs of a product life cycle, which is performed at the stage of its development, has a dominant influence on achieving and maintaining the competitiveness of the product in the market and the target profit as the primary production goal. Development is of crucial importance in the product life cycle, because evaluating individual solutions for the new product's conceptual and preliminary design based on the simulation of costs of all stages of its life cycle represents the way of ensuring the design requirements for excellence. This paper presents in detail the setting and development of a hybrid model of product life cycle cost management, based on fuzzy neural networks.