Which term describes the responsibility of a company for the entire lifecycle of its products?

The term that describes the responsibility of a company for the entire lifecycle of its products is product stewardship. This concept emphasizes a company’s obligation to consider the environmental impacts and sustainability of its products from the design phase through to production, use, and ultimately disposal or recycling. By adopting product stewardship, companies take accountability not just for their operations but also for how their products affect the environment and society throughout their lifecycle. This includes ensuring that resources are used efficiently, minimizing waste, and promoting recycling and responsible product end-of-life processes.

In contrast, mass production refers to the process of manufacturing large quantities of products efficiently but does not inherently address lifecycle responsibilities. Cost management focuses on controlling costs and maximizing profitability, which may exclude environmental considerations. Lean manufacturing aims to minimize waste and optimize processes within production but does not explicitly encompass the entire lifecycle responsibility that product stewardship entails.