The study aims to use the product life cycle cost system in order to enhance the environmental and economic sustainability of industrial companies in light of the requirements of the value chain. The study conducting through the empirical study that the product life cycle cost system helps reduce costs during all stages of the product life cycle and determine the expected returns by choosing By choosing the best alternatives, managing resources more efficiently and helping to make sound administrative decisions, which is reflected on the environmental and economic performance of industrial facilities and enhances their competitiveness. The study recommends the need to implement the product life cycle cost system, the need to study and analyze the integrative relationship between other modern approaches to cost management and try to benefit from them in supporting the competitive ability of enterprises to achieve environmental and economic sustainability such as accounting for material flow costs, the balanced performance card.