Guidance for Use of the Fair Wear Labour and Minute and Product Costing CalculatorFair Wear’s Labour Minute Costing Calculators allow brands and factories to ring-fence the labour cost based on a transparent methodology for costing/pricing of goods. These costing calculators have been adapted to take into account the impact of Covid-19. The adaptation to the tool allows a factory to quantify the additional costs a factory has to meet in order the adapt to the corona crisis. Changes in terms of the workforce, overtime, additional overhead costs (such as transportation, disinfectants, face masks or plastic dividers), severance pay and loss in productivity due social distancing and time loss (e.g. because of workers queuing for temperature checking or washing) can be entered into the tool to allow for a new product calculation. Subsequently, a change in product price that take the new reality into account can be calculated as a basis for discussion with the buyer.https://asiagarmenthub.net/Members/ceb9d101001246c0aef2bdce3ec73db9/guidance-for-use-of-the-fair-wear-labour-and-minute-and-product-costing-calculator-final.pdf/viewhttps://asiagarmenthub.net/Members/ceb9d101001246c0aef2bdce3ec73db9/guidance-for-use-of-the-fair-wear-labour-and-minute-and-product-costing-calculator-final.pdf/@@download/image/dump_1.gif
Guidance for Use of the Fair Wear Labour and Minute and Product Costing Calculator
Fair Wear’s Labour Minute Costing Calculators allow brands and factories to ring-fence the labour cost based on a transparent methodology for costing/pricing of goods. These costing calculators have been adapted to take into account the impact of Covid-19. The adaptation to the tool allows a factory to quantify the additional costs a factory has to meet in order the adapt to the corona crisis. Changes in terms of the workforce, overtime, additional overhead costs (such as transportation, disinfectants, face masks or plastic dividers), severance pay and loss in productivity due social distancing and time loss (e.g. because of workers queuing for temperature checking or washing) can be entered into the tool to allow for a new product calculation. Subsequently, a change in product price that take the new reality into account can be calculated as a basis for discussion with the buyer.
