What is associated with economic and LCC factors in Supply Chain Management?

In Supply Chain Management, economic factors include cost efficiency, pricing strategies, and market demand, which directly influence decision-making and overall profitability. Life Cycle Costing (LCC) factors assess the total cost of ownership, including initial costs, maintenance, and disposal, providing a comprehensive view of long-term financial impacts. Together, these elements guide companies in optimizing their supply chains by balancing cost, quality, and sustainability. This integrated approach helps organizations enhance competitiveness and resource allocation.