I have put together a proposed budget pricing guideline for (company name) manufacturing training sessions that are set to begin in March of this year. In addition, I will be discussing the milestones and duration for the budget to give all of you an idea of a time frame and what resources will be needed in order to accomplish our goal: training the management on the new compliance system. The proposed total duration of these training exercises will be in the ball park of three months. This is to ensure that resources will be coordinated, a qualified training crew will be hired, and for the software to be integrated.
Hardware purchases will need to be made in order to accommodate the amount of people that will be involved in the project, while the remainder will be used throughout the company so that the funds will not be disposed of inappropriately. The estimated costs that will be related to the hardware investment will, unfortunately, be the most costly portion of this project; There is an estimated amount of $75,000 going to just this investment alone. Travel expenses will, of course, need to be accounted for as the managers will need appropriate travel arrangements in place in order to attend the training sessions in order to receive credit; An estimated amount of $5,500.00 will be spent on accommodations and airfare for the management personnel. The meals will also need to be taken into account as well for the span of time that management will be in the training seminars. The estimated figure for this is $1250.00 for the time required for management to be here.
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Q. (a) Why is it important for a firm to ensure efficient stock management? (b) Outline and evaluate methods of stock management which firms use. Stock management is defined as the control of stock to ensure that it is adequate for immediate needs without using up excessive financial resources. Stock costs are an important aspect of a firm's overall costs. This means that firms ensure that ...
Instructor costs also need to be factored into this equation for the work that they will be required to do, which is estimated at around $950.00. There will also be instructional materials that will need to be put together and distributed to all of the employees that are attending the seminars. The employees at (company name) need to get better acquainted with the new compliance software system, and in order for them to do so, this is required. The estimated costs for the instructional materials comes in around $1200.00. Technical equipment will also be a factoring role in the training sessions. The type of equipment that we will need to purchase are items such as: projectors, monitors, and other various instructional tools, estimating at nearly $1600.00.
Certification is also going to be playing a role in the training process so that our managing personnel will be able to have their qualifications met and in place so that they will be able to use the new compliance system, estimating at nearly $275.00. The facility that is being used to house the training seminars also has a renting fee that is to be paid at the end of each week to ensure that our spots are reserved for the upcoming week, with a set price of $850.00 for each week that we use the property. Since we will be there for a total of three months, the price will be $10,200.00 total costs.
