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Cost of production workshops
FarmReady course FRTC0407 or FRTC0657
Holmes Sackett has developed a cost of production course with an aim to teach sheepmeat/wool and beef producers how to calculate their cost of production, identify where it is useful, and find opportunities to improve efficiency and profitability.
The course will teach participants to think about efficiency of their production systems using full cost accounting. In completing this course they will need to think how the strategy they set will be impacted by variations in seasons and markets. As an example if they change their management system what is it likely to do to supplementary feeding costs.
The course will also highlight the variation between participants as a consequence of strategic management decisions.
Who should attend?
- Sheepmeat/wool producers
- Beef producers
- Farm advisors
About the course
This course is aimed at finding opportunities to improve profitability of enterprises by looking at the effficiency of your production system given your specific and regional climatic circumstances. It looks at all operating costs in the production system and the production that is able to be generated by those costs.
Questions answered by the course include:
- Is there room to improve the long term efficiency of my production system?
- What are the most profitable opportunities to take?
- What will it cost me to implement those opportunities?
About the presenter - Sandy McEachern
Sandy has been an agricultural consultant for over 12 years. He has expertise in business analysis, benchmarking interpretation, timing of management events, stocking rates, animal health, capital allocation to improvement of livestock, pastures and infrastructure.
Sandy's client exposure, expertise areas and development of the cost of production course, notes and tools have provided him with an excellent understanding of cost of production and how best to implement improvements based on your cost of production calculation.
What will you learn?
- What cost of production is and how it can be a useful indicator of possible opportunities to improve farm performance and profitability
- How to calculate cost of production
- What the cost of production is for your enterprise by calculating your own cost of production
- How to identify opportunities for improvement on your farm
- How to use the cost of production calculator to plan for improvements
- What impact you have had on cost of production by recalculating your own cost of production to quantify improvements
The topics
- Introductions and awareness of how cost of production is calculated
- Key issues in calculating and interpreting cost of production information
- Case study exercise in calculating cost of production
- Discussion on case study and advice on calculating individual participants CoP
- Analysis of variation within the group in key components of cost of production
- Discussions on individual recommendations
NB: Topics are somewhat flexible and may be modified to suit the group.
Cost and content
The two-day workshop will cost from $590 (GST excl) for the first business member. Additional business member participants will be charged at full cost unless specified otherwise.
The cost of the workshop includes:
- Access to consultants expertise
- Practical cost of production calculator
- A comprehensive cost of production business report
- Guidelines for success
- Morning and afternoon tea and lunch