COLLEGE STATION Managing costs and improving profitability and product quality are the goals of the Feed Industry Profitability Workshop scheduled for Dec. 6-8 in Omaha, Neb. The workshop will take place at the Educational Service Unit #3, 110th and Harrison streets in Omaha.
The workshop will target plant and office managers, controllers, accountants and cost center supervisors, said Dr. Tim Herrman, director of the Office of the State Chemist at Texas A&M University and workshop instructor.
“The increasingly competitive feed industry necessitates managers, supervisors and controllers understand management principles that determine corporate profitability,” Herrman said. “This workshop is designed for individuals who desire to sharpen their management skills.”
Experience working in Excel is important, since most classroom assignments and case studies involve spreadsheets, Herrman noted.
This is the sixth course involving faculty from Texas A&M and Kansas State University. The workshop will address:
– Capital budgeting, including preparing detailed cash flow statements and assigning rate of return based on project risk;
-Interpreting financial statements and assessing feed mill competitiveness through financial ratios and benchmarking;
-Performing detailed cost analysis by shift and feed ration;
-Analyzing and managing variability using statistical techniques that improve feed quality, operating efficiency and profitability;
-Learning to assess optimum operating conditions and identify economic efficiency; and
– Utilizing financial planning techniques to examine growth strategies.
Registration is $750 and includes course materials, lunch, breaks, computer software and use of a computer laboratory.
The workshop will be presented in collaboration with the Office of the State Chemist at Texas A&M, American Feed Industry Association, National Renderers Association and the American Protein Producers Industry.
For more information, contact Herrman at (979) 845-1121 or e-mail tjh@otsc.tamu.edu .
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