Nieminen, Petri S.

Total Cost of Ownership in Manufacturing Industry — Basics and more

Total Cost of Ownership in Manufacturing Industry

Basics and more

Kuvaus

Have You ever wondered the same as I have: When there's an economic downturn, many employers are quick to lay off some of their personnel, reduce or stop their investments and to look for other short-term cost reductions. What if it didn't have to be this way?

The concept of Total Cost of Ownership (TCO) has a huge potential to help companies make money and retain a increase their profitability more sustainably and in more long-lasting way.
In manufacturing industry TCO has traditionally been applied on purchasing, supply chain and ICT topics, but there is so much more to it. TCO can be applied e.g. in topics of quality, office work, strategy and stakeholder management.

And let's not forget about the most important aspect: Us humans who run the companies and work in them. Let's hoist the sails and embark on this fascinating journey through the ocean that is TCO.