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Course Description

While examining different alternatives in a purchasing scenario, it's tempting to only compare the purchase price of each option. Yet the purchase price does not account for the other indirect and direct costs that you as the buyer will incur while purchasing and owning that product. As the buyer, you should examine the total cost of ownership of different products because, in the long run, the lower the cost of ownership, the better the value is for you. In this lesson, you will examine the total cost of ownership model as a means to compare the long-term value of different products. You will identify the cost categories involved in each stage of the product's life cycle. You will then determine the drivers behind each of the cost categories. Finally, you will calculate the present value of the costs for each of the different stages of the product life cycle and sum these present-value costs together to arrive at the total cost of ownership.

Benefits to the Learner

  • Assess the total costs of ownership associated with a product or service
  • Determine the drivers behind each cost category involved in the total cost of ownership
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Type
self-paced (non-instructor led)
Dates
Aug 01, 2022 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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