Total Cost of Ownership
Example
For example, a company that implements Total Cost of Ownership strategies, like Evaluating the TCO helped in making procurement decisions., can see significant improvements in their business performance by streamlining workflows, enhancing productivity, and boosting overall profitability.
Definition
The purchase price of an asset plus the costs of operation. This term is crucial in the Total Cost of Ownership context as it helps businesses understand how to Total Cost of Ownership in their operations, making it highly relevant for industries looking to optimize Total Cost of Ownership processes.
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