3.6.2.2.2
Inventory and Asset Management
Purpose: Inventory and asset management involve tracking the farm’s resources, including livestock, equipment, and supplies, to ensure they are used efficiently and maintained properly. Effective management reduces waste, improves productivity, and controls costs.
Poor Outcome:
Inventory and assets are not tracked properly, leading to shortages, overstocking, or underutilization of equipment and resources. The farm experiences inefficiencies, increased costs, and operational disruptions.
Expected Outcome:
The farm maintains accurate inventory and asset records, ensuring that resources are available when needed, reducing waste, and optimizing resource use. This leads to smoother operations and controlled costs.
Excellent Outcome:
The farm uses advanced inventory and asset management systems, including real-time tracking and predictive analytics. This results in optimized resource allocation, minimal waste, and efficient use of equipment and supplies, maximizing productivity and profitability.