Key Performance indicators (KPIs) are the main figures used to assess the factors that are important for the success of a suckler enterprise. Once measured, the KPI for a farm can be compared with local or national averages, in a process known as benchmarking. It is important that we consider all aspects of herd efficiency, not only due to its effect on the financial performance but also on how it impacts the environment.
As we have done over the past couple of years, we will start our 2020 meeting calendar with a benchmarking session in which people will be able to compare themselves anonymously with the group as a whole. Whilst this may be interesting to track performance, it also allows us to identify strengths and weaknesses in different farms. The discussion and the exchange of ideas between the group members has been helpful in identifying the key areas to focus on with regards to making improvements on the businesses that attend. Some of you may remember this from last year and now some farms we will be able to compare with the performance over the last three years.