Dictionary of Procurement Terms

Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1-1 of 1 result for “Total Cost of Ownership (TCO)”
  • Total Cost of Ownership (TCO)

    A calculation used to determine the overall cost of a good or service throughout its lifecycle by adding to the initial purchase price all fixed and variable costs to own and operate that good or service, minus any residual value, if any.
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