It’s no secret that the food and agribusiness industry is a fast-paced world of tight margins and dynamic marketplaces where CFO positions are of significant strategic importance. It’s also no secret that the world of numbers and finance can be daunting for non-financial managers who don’t get their hands on the statements every month. The need for non-financial managers to understand financials is rapidly becoming a crucial and sought-after trait.
Mati Mohammadi, a PhD student at Purdue University and graduate research assistant at Purdue's Center for Food and Agricultural Business, talks about the importance of trust in business relationships.
Virgil Bremer knows a thing or two about impeccable timing. Over their one-year anniversary dinner, Bremer shared with his wife that he had decided to leave his 6-year career as a senior research scientist in the animal health industry in favor of running the couple’s livestock operation full-time.
There are a variety of rapid-fire changes happening in the food and agriculture industry, including generational shifts and consolidations in farm business and agribusiness. With these changes and the rise in e-commerce and digital purchases, do relationships still matter in today’s agribusiness marketplace?
For better or worse, marketing and sales efforts affect not only the profitability of a firm but also the firm’s liquidity, or its ability to meet short-term financial obligations.
The agri-food system is changing and your organization is no doubt working through the ways to cultivate competitive advantage in an industry that’s moving at warp speed. But disruption and chaos in the marketplace isn’t necessarily always a bad thing.
In the 2017 Large Commercial Producer Project, Purdue University asked farmers to rank product performance, price, and supplier relationship when purchasing crop inputs. The result: Most farmers have clear favorites.
Knowing your customer base is more important than ever, especially when your customer base includes the complex operations run by today’s large-scale commercial agricultural producers.