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Table 1 SWOT analysis of life cycle assessment.

From: Integrating life cycle analysis into system dynamics: the case of steel in Europe

Strengths

Weaknesses

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

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