In the last 10 years, the term, TCO (total cost of ownership), has been used to describe a project’s costs. But, all too often, the devil has resided in the details, with several unconsidered costs rearing their ugly heads after project completion.
About two years ago, PMMI’s Alliance for Innovation & Operational Excellence (AIOE) began to work on clearly defining TCO so food and beverage processors and OEM suppliers would have a clear playing field—a set of protocols for working together to determine project scope and all costs so there would be no surprises after project completion and during line/plant operation.