Total Cost of Ownership (TCO) refers to the comprehensive and all-encompassing assessment of all costs associated with acquiring, owning, and maintaining a product or service over its entire lifecycle. It goes beyond the initial purchase price and takes into account various direct and indirect costs incurred throughout the product or service’s operational life.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
