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Total Costs Of Ownership
The comprehensive assessment of all costs associated with the purchase, operation, and maintenance of a good or service over its life cycle.
Suppliers
Companies or individuals that provide goods or services to another entity as part of a supply chain.
Time-Based Management
A strategic approach that focuses on reducing the time required to conduct various business processes to improve performance and competitiveness.
Non-Value-Added Costs
Costs incurred during the production or delivery of a product or service that do not increase its market value, often a target for reduction or elimination in lean manufacturing.
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