Profit Strategies

Archived Webinar Series

Helpful tools and techniques for improving your dairy's bottom line.

Dairy COP$ and Cash Flow Budgeting

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Knowing your cost of production is critical to establishing survival strategies in the current milk price environment. Learn how to use the DairyCOP$ cost of production model for calculating your cost to produce cwt of milk. Producers who wish to may submit their data to a cost of production benchmarking program. Development of a monthly cash flow budget is another management tool producers should utilize in any price environment, but especially so in a downturn. A new spreadsheet tool will be introduced to help you accomplish this important task. Presenter: Brad Hilty, Information Management Specialist, Penn State Dairy Alliance

Accounting Forum

This accounting forum will focus on steps you can take to improve your accounting systems, including reconciling first quarter numbers, utilizing reports to spot errors in your data entry and evaluating system accuracy using the statement of cash flows. Participants can receive answers to questions they may have concerning their accounting systems. A review of 2008 benchmark numbers from various benchmark programs will also be presented. Presenter: Brad Hilty, Information Management Specialist, Penn State Dairy Alliance

Tools to Use During Business Planning and Evaluation

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Considering a shift in management of your dairy? These tools developed by Dr. David Galligan of the University of Pennsylvania will help. Also included is an overview of a soon-to-be-released tool for conducting trend analyses for businesses. In addition, learn what components should be in your business plan and how to pull all that information into a format to summarize any strategic changes you may be considering. Presenters: Dr. David Galligan, University of Pennsylvania School of Veterinary Medicine, and Brad Hilty, Information Management Specialist, Penn State Dairy Alliance

Program Partners:

• Northeast Center for Risk Management Education

• University of Pennsylvania School of Veterinary Medicine

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