Lifecycle Policies

Lifecycle policies are guidelines that help manage the stages of a product or resource from its creation to its retirement. In a business context, these policies outline how to handle products as they evolve—such as introduction, growth, maturity, and decline—ensuring efficient use of resources, compliance with regulations, and strategic decisions for upgrades or discontinuation. They aim to maximize value and minimize waste or costs, balancing innovation with sustainability. Essentially, these policies help organizations effectively manage what they produce and offer throughout a product's life.