Life Cycle

Technology Life Cycle

The Technology Life Cycle (TLC) is an important tool. The diagram to the right illustrates the typical life-cycle of a manufacturing process or production system from the stages of its initial conception to its culmination as either a technique or procedure of common practice or to its demise. The Y-axis of the diagram shows the business gain to the proprietor of the technology while the X-axis traces its lifetime. Some technologies, such as steel, paper or cement manufacturing, have a long lifespan (with minor variations in technology incorporated with time) whilst in other cases, such as electronic or digital devices/processes, or in pharmaceutical technologies, the lifespan may be quite short.
It is to be noted that the TLC associated with a product or technological service is different from Product Life Cycle (PLC) dealt with in Product Life Cycle Management. The latter is concerned with the life of a product in the market-place in respect of timing of introduction, marketing measures and business costs. The technology underlying the product (which,say, for instance is a uniquely 'flavored tea') may be quite marginal but the process of creating and managing its life as a branded product will be very different.
The technology life cycle is concerned with the time and cost of developing the technology, the timeline of recovering cost and modes of making the technology yield a profit proportionate to the costs and risks involved. The TLC may, further, be protected during its cycle with patents and trademark seeking to lengthen the cycle and to maximize the profit from it.
The 'product' of the technology may just be a commodity such as the polyethylene plastic or a sophisticated product like the ICs used in a smartphone.
It is important to note that the development of a competitive product or process can have a major effect on the lifespan of the technology, making it shorter. Equally, the loss of patent rights through litigation, or loss of its secret elements (if any) through leakages also work to reduce its lifespan. Thus, it is apparent that the 'management' of the TLC is an important aspect of technology development.