Sustainability, environmental efficiency, and circular economy are key aspects of the product life cycle and necessitate ongoing development. Furthermore, the ongoing pandemic has prompted businesses to reassess their recovery and adaptation plans in light of the "New Normal." As a result, businesses are attempting to better position their facilities in the face of these new challenges, the most important of which is establishing how to build competitive advantages in the Industry 4.0 era. By combining people, processes, and machines, artificial intelligence, machine learning, current computer technologies, automation, robotics, the internet of things, and additive manufacturing can all contribute to optimise the product life cycle. Furthermore, researchers and industry experts throughout the world have been working to advance life cycle engineering through the use of numerous algorithms, techniques, data models, improved materials, and other ways. Composite materials, such as carbon fibre reinforced epoxies and bio-composites, can, for example, lessen a product's environmental effect over time.