Total Landed Cost is an all-encompassing formula used to calculate the total cost of procuring and delivering a product. It takes into account not only the direct costs, such as shipping and customs fees, but also indirect costs such as tariffs and other taxes. By using the Total Landed Cost Formula, businesses can make educated decisions on where to source materials and which suppliers are able to deliver their goods at the best overall cost. This formula gives businesses the power to remain competitive in an ever-changing global marketplace.