When Using the Total Cost of Ownership Concept, Explain How

question 29

Essay

When using the Total Cost of Ownership concept, explain how a supplier with a higher unit price and higher tooling cost can end up being more cost effective than another supplier with a lower unit price and tooling cost.

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Definitions:

Kirkpatrick's "Level One"

The first level of Kirkpatrick's model, which assesses participants' immediate reactions to a training program.

Training Managers

Individuals responsible for overseeing the training and development programs within an organization, ensuring they meet the needs of the employees and the business.

Conference Board Of Canada

An independent, not-for-profit research organization that specializes in analyzing and forecasting economic trends, public policy, and organizational performance in Canada.

Training Evaluation

The process of assessing the effectiveness and efficiency of a training program, usually by measuring skill acquisition, knowledge, and attitude changes.