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What is Total Cost of Ownership & why is it important for you?

In this insightful episode of “Let’s Talk Procurement,” hosts Luke 1 and Luke 10 dive deep into the concept of Total Cost of Ownership (TCO). Often, procurement professionals focus solely on the purchase price, but TCO takes a broader view, considering all costs associated with acquiring, operating, and maintaining a product or service over its entire lifecycle.

Join the Lukes as they break down the components of TCO, including direct and indirect costs, and share real-world examples of how understanding TCO can lead to smarter purchasing decisions. Whether you’re a seasoned procurement pro or just starting out, this episode will equip you with the knowledge to look beyond the initial price tag and make more informed, strategic decisions.

Tune in for a blend of practical advice, industry insights, and a sprinkle of humor as the Lukes make the complex world of procurement a little more approachable and a lot more fun!

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