Integrating product life cycle issues in technology selection

Technology selection is one of the most important and strategic decisions made in new product development. Companies need to consider product life cycle issues during the technology selection process. Effective strategies for considering life cycle issues and technology selection together during product development have not been fully explored in the existing literature. In this paper, we review the current literature regarding technology selection and life cycle issues. We also propose a decision-making framework using a mathematical programming method to select the best alternative technology and planning and management of the development project. We do this by considering management control actions, product launch time, budget constraints, and sales volume, as well as demand and market requirements during the product life cycle.