Contract Cost and Documentation for the Navy by Lester Myers Inc - Research Proposal Example

Contract Cost and Documentation for the Navy Introduction Lester Myers Inc. 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 the company is involved in the groundwork of contract cost and documentations for the Navy. The other competitors agreed that Lester Myers Inc. has specialization in coating the floors with advanced techniques. The company is equipped with advanced, revised and upgraded technologies, which helped it to provide quality facilities to the Navy (Shingo, 1986). Contract Cost and Documentation Process 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). Payment Types 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 company should also provide point of sale mobile or machines, which would be beneficial for the customers. The company is equipped with advanced technology, which is benefiting the Navy to make payments on the basis of convenience. The Navy pays the amount to Lester Myers Inc. on the basis of performances and services offered. The company can set the stages to complete a whole work and make payment after the completion of each stage. This process can enhance the quality of the services and provide a payment process, which helps the company in providing services to the Navy on the basis of preferences (Scheer, 2013). Quality Control and Inspection Procedures Lester Myers Inc. is specialized in coating floor with advanced technology, so effective quality products are provided to its customers. By the procedures of quality control, the company sets a standard quality, which helps to meet the customers’ requirements and needs. They should provide a quality inspection procedure, which makes sure that the entire process assists in providing quality services. In this respect, the company should develop an inspection team to maintain the goodwill of the company for serving the customers successfully. It is the responsibility of the quality inspection team to check every process from the raw materials to finished products for offering quality products and services in a profitable manner. In addition, the task oriented activities to prolong the products and services quality are developed for meeting the needs of the customers appropriately. This process helps to quantify the defects and malpractices in manufacturing products or providing services (Shingo, 1986). It prevents shortcomings of the products or services, which in turn helps Lester Myers Inc. to enhance the quality and value of the products. Accordingly, loyalty of the Navy will be sustained and in future, the company will recommend the quality products of Lester Myers Inc. This process should consider the Navy’s perspective about the products and serve the customers best quality products as well as services. This process also reduces the cost of repair, as the process will scrutinize every process of production. Effective quality inspection process assists the company to promote its brand value and develop a strong brand image of the company. The company also provides huge opportunities to expand its business and provides its quality services to the customers. Thus, quality inspection procedures should be addressed in the proposal, so that the Navy is aware about the objectives and intentions of Lester Myers Inc. (Shingo, 1986). Navy’s Floor Equipment Lester Myers Inc. has advanced and upgraded floor equipment by which the company can enhance its service quality to gain loyal customers. While providing quality services and products to the Navy, the company learned that Navy base has floor equipment, which the Navy currently cannot use for its floor. Lester Myers Inc. should request to the Navy to use the equipment to increase the speed of the services. It will help the company to finish the work before the stipulated time. The company is needed to adopt appropriate measures in order to ensure the quality of the services, so that the company can consult with the Navy about the floor equipment and condition of the equipment. If the conditions of the equipment are inappropriate, then it is better to work with its equipment. The company adopts the initiatives to repair the equipment and on the other hand, it will increase the cost of production, which further delays the work procedure (Parish Maintenance Supply, n.d.). If the equipment is in working condition, then the company will face fewer complexities in performing its operations in an effective manner. In this regard, Lester Myers Inc. can have a better awareness about the consequences of using the equipment. This also increases the productivity of the equipment and can makes use of the available resources by which the actual outcomes are enhanced. If the equipment is innovative than Lester Myers Inc., then it would help both the entities to get benefits from the equipment to complete the contract successfully. Lester Myers Inc. may also request the Navy to provide the equipment on hire, so that it can use the equipment in other contract also to boost the process of serving the products in a profitable manner. In addition, innovative techniques will help the company to provide products and services to the customers in an effective manner (Parish Maintenance Supply, n.d.). Company’s Private Patent Patent is the set of characteristic and rights that separate one company’s products, services or activities from another company. It includes innovative technology, actions and deeds that the company has discovered or used individually. It protects the uniqueness of the products and services provided by the company. Lester Myers Inc. has a patent on the specialty floor coating using advanced technology and ideas. They also have the patent documentation for the finished products by which it can provide unique services and products to the Navy. As it has the limited period for using, the company has to renew the patent monthly or yearly to sustain the reliability of the services or products. Patents are the intangible assets and are known as intellectual property. It is very necessary to have a patent for these types of company. It reduces the chances of duplicity and minimizes the risk of spoiling the image of the company (Kahrl, 2014). As the patents are approved by the government, it is clear that the practices of the company are checked by the government and the company remains conscious about the ethical or other practices. As Lester Myers Inc. mentioned about the patients and related rights in the proposal, the Navy would not have a patent infringement objection for the use of the coating. Perhaps it benefits the Navy to increase the quality of the floors and its coatings. It also helps Lester Myers Inc. to keep the competitors away from the path of competition. As the competitors agreed that Lester Myers Inc. is specialized on coating floor, it is clear that the process of coating floors of the company is unique and effective and should have a patent to bring to a halt from illegal use, manufacturing and selling exceptional inventions. On the other hand, the company can give its patent to others to use as any kind of assets (Kahrl, 2014). Contract Closeout Contract closeout refers the process by which the company can close the contract with the consent of the Navy and Lester Myers Inc. This process includes some objectives, which should be followed by the companies. The companies should verify the procedure of billing in order to ascertain whether it contains all the relative terms with the contract or not. It also includes the inspection process of financial structure of the companies to control the direct and indirect cost. The company should discuss about the future contract and other issues related to the products, so that it can build a strong business relationship in future. They should consider the auditing process to have control over the monetary matter and prevent the fraudulent and unethical acts of the members. It is a comprehensive organizational course of action to make sure that the contract have satisfied both the companies by enhancing the product quality and mitigate the obligations (Gilbreath, 1992). The procedure of contract closeout includes the payment procedures that have to be completed after providing the finished products. All the issues have to be solved within the limited time and resources. All the required documents and related reports should be sent to the managers or senior of the company, so that they could compare the actual performance with the standard one. And even if they found insufficiency in the contract closeout process, then the top level managers should be aware of the deficiency and work as per requirements (Saxena, 2008). Conclusion It can be comprehended that contract cost and documentation for the Navy by Lester Myers Inc. have been an important consideration in managing costs and providing services for effective paper works. With the help of the process, it can be observed that the company can fulfill the individual requirements by developing effective strategies and take actions as per the requirements. Lester Myers Inc. discusses with the Navy about the payment processes and type based on which payments can be made in accordance with services and products offered. In addition, the company provides recommendations based on which the Navy with the use of floor equipment and other tactics enhance the product quality with the use of limited resources. In the contract closeout phase, the company provides the final reports and documents to the Navy in relation to payments. References Gilbreath, R. D. (1992). Managing construction contracts. New Jersey: John Wiley & Sons. Kahrl, R. C. (2014). Patent claim construction. Netherlands: Wolters Kluwer Law & Business. Parish Maintenance Supply. (n.d.). What to look for when choosing a floor machine. Retrieved from http://www.parish-supply.com/documents/638.pdf Saxena, A. (2008). Enterprise contract management. Newcastle: J. Ross Publishing. Scheer, A. W. (2013). Business process engineering study edition. USA: Springer Science & Business Media. Shingo, S. (1986). Zero quality control. USA: Productivity Press. Urizar, M. (2013). The project managers checklist for building projects. Bloomington: Xlibris Corporation. Read More