TCO (Total Cost of Ownership)
TCO (Total Cost of Ownership)
Total Cost of Ownership (TCO) is a metric used in procurement to measure the total cost of an asset or project over its entire life cycle. TCO captures more than just the upfront purchase cost of an asset; it also takes into account associated costs such as maintenance, operation, and disposal. By evaluating TCO, businesses can make more informed purchasing decisions that benefit them in the long run.
