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Contract Cost and Documentation for the Navy - Assignment Example

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deals with flooring business with it wide range of products such as marbles and ceramic tiles. To win the contract, the company has to provide rational facilities to the Navy. Lester Myers Inc. effectively planned for negotiating the contract with the Navy and…
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Contract Cost and Documentation for the Navy
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Download file to see previous pages Contract cost includes the strategies for controlling various kinds of cost associated with the contracts or agreements of the company. The strategies of contract cost help to provide different kinds of products to the Navy, so that the customers can justify the billing procedures and other costs related to the services of Lester Myers Inc. The documentation process helps the company to check the working process including the paper works with the aim of ascertaining accuracy of billings. The documentation process is adopted in order to minimize the effects and maintain the quality of services or products (Urizar, 2013).
In the negotiation process, Lester Myers Inc. provides a low price facility to the Navy. It helps Navy to purchase the products or services from Lester Myers Inc. in bulk quantities, which increases the sales percentage of Lester Myers Inc. The company should implement an efficient payment facility to retain Navy’s contract as well as trust. If the payment facilities do not provide benefits to the Navy, then disagreement will be witnessed in the contract, which will not be efficient for the business relations. In addition, the company should focuses on the ways by which it can control as well as increase the working capital and cash flow within the same. Lester Myers Inc. provides credit facilities for the Navy, so that the customers get the chance to pay the amount over time. Credit facilities include partial payment facilities reducing the stress of bulk payment, which could be riskier for the Navy (Scheer, 2013).
The company should provide monthly or periodically installment payment facilities, which in turn helps the Navy to feel free from the payment burden and pay periodically or monthly. The company can provide multi channels for the payment such as online facilities or other credit and/or debit card facilities to make payment process easier for the Navy. The ...Download file to see next pagesRead More
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