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Life Cycle Costing for Sustainability

Life Cycle Costing for Sustainability
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Author(s): Mustafa Üç (Epoka University, Albania)and Cemal Elitaş (Yalova University, Turkey)
Copyright: 2016
Pages: 12
Source title: Handbook of Research on Waste Management Techniques for Sustainability
Source Author(s)/Editor(s): Ulas Akkucuk (Bogazici University, Turkey)
DOI: 10.4018/978-1-4666-9723-2.ch005

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Abstract

Life cycle costing supports sustainability by stressing the costs not only in the production and selling phases but also considering the costs which are incurred after the sale of the products. This chapter reveals main characteristics of life cycle costing as follows: Life cycle costing also includes production costs which are; (a) research and development costs, (b) marketing, selling, distribution and design costs, (c) and also user costs. User costs have three dimensions: transaction costs, maintenance costs, and disposal costs. Therefore one can simply assert that life cycle costing has a broader approach in the calculation of the costs compared to other conventional costing systems. After introducing the main characteristics and basic definitions of life cycle costing, this chapter will discuss the implementation of life cycle costing in comparison with other conventional costing systems. Following this, we will analyze the link between life cycle costing, waste management and sustainability. Overall review will be done in the conclusion.

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