Taking a “Total Cost of Ownership” approach

Many businesses, to their detriment, focus excessively on the nominal prices of their procured goods and services.  What matters, of course, the is the overall impact on the business:  impact on quality, on customer satisfaction, on labor productivity, on cash flow velocity, etc.  The catch:  it’s hard to  incorporate these other, non-price, criteria into one’s evaluation.  Listen to Dan Bleicher explain how we do this: