Managing Obsolescence
Obsolescence Management is the process of identifying, mitigating, and managing the risks associated with the obsolescence of materials, components, processes, skills, and software throughout the lifecycle of a product or system. It involves planning for and managing the entire lifecycle of a product or system, from design to end-of-life thereby ensuring that products remain functional and supportable despite the inevitable changes in technology and market conditions. How Obsolescence Comes About Obsolescence can occur due to several factors: Technological Advancements : New technologies can render existing ones obsolete. Business Changes : Existing solutions no longer meets current functional requirements or standards. Furthermore, newer solutions may be cheaper to operate than existing ones. Availability of skills : The skills needed to operate and keep systems operational no longer exist or are hard to find. Supply-chain issues : Suppliers may go out of business or st...