Mea­sure pro­duc­tiv­ity to plan for success

Australian Farmers & Dealers Journal - - NEWS -

NEW re­search from Com­mon­wealth Bank has re­vealed that mea­sur­ing and mon­i­tor­ing busi­ness pro­duc­tiv­ity is a key fo­cus for farm­ers in Vic­to­ria, South­ern NSW and East­ern South Aus­tralia. More than 300 grain, dairy and live­stock farm­ers were sur­veyed as part of the re­search, with 40 per cent claim­ing that mon­i­tor­ing pro­duc­tiv­ity has had a pos­i­tive im­pact on their busi­ness. Dairy farm­ers were es­pe­cially com­mit­ted to im­ple­ment­ing pro­duc­tiv­ity mea­sure­ment, with 82pc mon­i­tor­ing daily milk pro­duc­tion. The CBA re­leased the re­search to co­in­cide with the Farm World field days in Vic­to­ria in March, where the cen­tral theme of pro­duc­tiv­ity was ex­plored in dis­cus­sions across four days. Com­mon­wealth Bank has been a ma­jor spon­sor of Farm World for more than 30 years. Dar­ryl Mohr, Com­mon­wealth Bank's Gen­eral Man­ager Re­gional and Agribusi­ness Bank­ing for Vic­to­ria and Tas­ma­nia, said the re­search re­sults show that farm­ers are recog­nis­ing the value of track­ing data to help them im­prove pro­duc­tiv­ity and prof­itabil­ity. “What we're see­ing is that farm­ers are us­ing data to plan their op­er­a­tion, and im­por­tantly, sig­nif­i­cant num­bers are us­ing mon­i­tor­ing data to help them im­prove their en­vi­ron­men­tal sus­tain­abil­ity, which is in­her­ently linked with long term busi­ness vi­a­bil­ity,” Mr Mohr said. “In the field, we know many farm­ers are us­ing tech­nol­ogy like wa­ter mon­i­tor­ing apps to help them im­prove sus­tain­able pro­duc­tiv­ity. “Track­ing is fun­da­men­tal in mea­sur­ing busi­ness success and pre­par­ing for the fu­ture. We're see­ing very high lev­els of yield mon­i­tor­ing in the dairy in­dus­try where the data is rel­a­tively easy to cap­ture, but we're also see­ing farm­ers across all sec­tors gather data on a range of mea­sures, from weather and wa­ter us­age to prices at mar­ket.“ Mr Mohr said that the col­lec­tion of pro­duc­tiv­ity data al­lowed farm­ers to make in­formed as­sess­ments of their busi­ness prac­tices. “They can then in­te­grate their learn­ings into their fu­ture busi­ness plans and track their re­sults to con­tin­u­ally im­prove their op­er­a­tions,” Mr Mohr said. Key re­search find­ings from sur­veyed farm­ers who col­lect data were:

• 61pc use col­lected data to com­pare their cur­rent re­sults to their pre­vi­ous year

• 30pc use col­lected data to cor­rect is­sues in their op­er­a­tion, to en­able them to in­crease pro­duc­tion. The num­ber rose to 35pc among dairy and beef farm­ers

• 22pc use data to sup­port en­vi­ron­men­tal sus­tain­abil­ity (28pc in dairy)

• 40pc say mea­sure­ment ben­e­fits their busi­ness by help­ing them to plan for the fu­ture and 22pc say it helps them in­crease pro­duc­tion

• 34pc of those sur­veyed bench­mark

their op­er­a­tions

• Weather is the most-mon­i­tored as­pect of farm­ing, with 55pc of farm­ers main­tain­ing weather record.

The re­search was con­ducted by in­de­pen­dent re­search com­pany GfK An­i­mal and Crop Health among 331 grain, dairy and live­stock farm­ers from Vic­to­ria, South­ern NSW and East­ern SA, in Fe­bru­ary 2015. The Com­mon­wealth Bank is a strate­gic part­ner of Farm World and has been sup­port­ing the event since the 1980s. As part of its in­volve­ment in Farm World, Com­mon­wealth Bank an­nounces two awards (Best Stand Award and In­no­va­tion Award) each year. It also sup­ports the Women in Agriculture lunch, and runs a break­fast panel dis­cus­sion ad­dress­ing top­i­cal is­sues.

• De­tails: www.comm­ agribusi­ness

What we’re see­ing is that farm­ers are us­ing data to plan their op­er­a­tion

Dar­ryl Mohr, Com­mon­wealth Bank’s Gen­eral Man­ager Re­gional and Agribusi­ness Bank­ing for Vic­to­ria and Tas­ma­nia.

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