LCOEM

AcronymDefinition
LCOEMLife-Cycle Oriented Environmental Management (green living)
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Such an approach to system resource reduction is an integral part of LCOEM.
The last element of a switch to an LCOEM approach requires managers to coordinate efforts among and between the functions of the firm as well as with its customers and suppliers.
Both inter- and intra-firm coordination can be difficult to accomplish, but they are essential in a successful LCOEM effort.
Managers considering implementing LCOEM must be able to answer a variety of questions and consider many implications.
In addition, managers must be able to figure out which elements of LCOEM will lower costs and which will increase them.
Moreover, if other pollutant markets develop, LCOEM firms should be the first to profit from selling unused pollution credits.
The major costs for an LCOEM approach may not be the direct expenses of waste and resource management, but rather the associated indirect and transaction costs.
It is possible, however, that the switch toward LCOEM may serve as an employee recruitment and/or retention tool.
Managers will also have to estimate the transaction costs that will be associated with LCOEM approaches.
Until LCOEM approaches are mandated by law or more universally compelled by market forces, their adoption may create an ethical problem for managers.
Non-LCOEM firms may develop some other market advantages over the LCOEM firm as well, such as shorter production lead times.
However, it is again possible to find cost advantages for the LCOEM firm that give it an edge in the market, obviating any problem.