From: Integrating life cycle analysis into system dynamics: the case of steel in Europe
Strengths | Weaknesses |
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Focus on environmentally friendly product design and its development Strong diagnostic and planning approach Clear depiction of stocks and flows of a product along a supply chain Stakeholder involvement in the supply chain is made visible Internationally accepted and indicator-friendly Linear, bottom-up approach Designed to objectively represent series of processes and to account for the flows therein | Complex inputs and outputs Limited comparability due to high specificity High time and effort requirements Performs best when the object of study is a contained unit or a simple combination Limited scenario analyses, often requiring One-Factor-at-a-time (OFAT) approach Unless a time frame or time series is tested, long-term decision-making application can be limited Disaggregation level can pollute the identification of key issues if not properly managed Standard application does not consider market dynamics |
Opportunities | Threats |
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Allows for ISO certification Can spearhead public image efforts regarding a company’s environmental concerns Standardization allows for cross-cultural exchanges | Interpretation of results can be confusing, misleading or complex for general management or communication purposes Scarce expertise Vulnerable to data availability Data inputs regarding future trends or behaviors depend on exogenous sources |