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You are here: Home / Our Services / Supplier Development / Total Cost of Ownership

Total Cost of Ownership

The Total Cost of Ownership (TCO) allows companies to account financially, for each activity along the supply chain including costs associated with the acquisition of materials, transportation, storage, and the selling of purchased goods or services. The goal is to equip companies to make strategic sourcing decisions.

The TCO Calculator, a key tool available only to participants of the MEP Supply Chain Optimization program, facilitates a side-by-side comparison of suppliers, analyzing multiple sourcing possibilities on a global scale.

TCO helps minimize total costs while maximizing value to the customer.

OBJECTIVES OF THE PROGRAM

  • Provide participants with an overview of Total Cost of Ownership concepts
  • Review key elements of TCO
  • Contrast Piece-Part Variance method with TCO costing
  • Understand the importance of implementing an effective TCO strategy
  • Learn how to identify and measure TCO cost drivers
  • Demonstrate the use of the TCO calculator
  • Learn how to input data, interpret results and use the output of the analysis to make strategic sourcing decisions.

THIS WORKING SESSION IS COMPRISED OF THE FOLLOWING KEY EDUCATIONAL ITEMS

  • Defining common TCO terms and concepts
  • Learning to identify and measure TCO costs
  • TCO cost categories and elements – using the TCO data collection form
    • Using the TCO calculator
    • Overview of TCO calculator input & output screens
    • Discuss alternate sourcing decisions based on TCO results

WHO SHOULD ATTEND
Financial Managers, Program Managers, and Supply Chain Managers

WHAT WILL YOU GAIN
Sound sourcing decisions based on analysis of Total Cost of Ownership factors help to achieve overall supply chain strategic objectives.

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Success Story

Success Story
Colorado-Based Natural Skincare Company Spinster Sisters Turns to Local MEP Center to Increase Throughput and Meet Hand Sanitizer Demand

In the early 90s, Kelly Perkins had growing concerns about the toxic chemicals being used in everyday products and decided to do something about it. Instead of using popular ingredients like triclosan, which has since been banned, Kelly started making soaps out of things like olive oil and fermented

Increased Sales
50,000
Retained Sales
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24,000
Jobs Saved
2
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  • About Us
    ▼
    • Staff and Locations
    • Board of Directors
    • Third Party Providers
  • Services
    ▼
    • Cybersecurity
    • Continuous Improvement
    • Technology Acceleration
    • Supplier Development
    • Sustainable Practices
    • Workforce Development
    • Online Programs
  • Events
  • News & Resources
    ▼
    • Manufacturing Minutes Newsletter
    • Success Stories
    • Colorado Manufacturing Data Dashboard
    • Congressional District Fact Sheets
  • Manufacturers Connect