Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Total Cost of Ownership (TCO)”

  • Total Cost of Ownership (TCO)

    A measure of all of the cost components associated with the procurement of a product or service. The sum of all fixed and variable costs attributed to a product or service. A philosophy for understanding all supply chain related costs of doing business with a particular ​supplier for a particular good or service. (Burt, Dobler, & Starling, 2003)