Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Page 37 Page 38 Page 39 Page 40 Page 41 Page 42 Page 43 Page 44 Page 45 Page 46 Page 47 Page 48 Page 49 Page 50 Page 51 Page 5218 Here, industry experts discuss issues that are top of mind, share technical advancements and talk about tips for success. ADVICE FROM INDUSTRY EXPERTS THE WORLD’S overabundance of food means more people can afford more processed foods and expensive sources of protein. That’s great — for the populations able to increase their calories and the variety of food they enjoy, and for Canadian agriculture. Canada imports some of the high- est quality food, giving consumers access to nothing but the best. But not all Canadians get to enjoy this abundance. Canada has one of the world’s highest quality-of-life rankings, but Food Banks Canada estimates 13 per cent of Canadians face food insecurity. Every month, food banks help more than 850,000 people. The problem isn’t necessarily food availability; it’s low incomes. The issue starts with income gains. The upper 10 per cent of households saw BUSINESS & FINANCE WHY ARE SO MANY CANADIANS STILL HUNGRY? Martha Roberts Farm Credit Canada Economic Research Specialist @MJaneRoberts fcc-fac.ca their income increase 47.7 per cent when adjusted for inflation between 1981 and 2014. The bottom 10 per cent of households increased their income one per cent. This means households that were poor in 1981 would have trouble by 2014 buying any item for which the cost rose faster than inflation. It’s now harder for poor households to buy food. Between 1981 and 2007, the price of food increased at a pace lower than the rate of infla- tion. Whatever food households could afford in 1981, they could still afford in 2007. From 2008 to 2014, food costs increased faster than inflation. The consumer price index for food increased 17.1 per cent, while general inflation rose 9.7 per cent. Fresh fruits and vegetables increased 31.1 per cent. Given the pace of food inflation during the past eight years, we have more food-insecure house- holds than ever. Read more from the FCC Ag Economist team at fcc.ca/AgEconomist. ONE COMPANY estimates that in the past year, 14 to 17 per cent of their product has been returned, costing an average of $19 for each returned bag of seed. Compounded with the fact that company reps are ordering extra to compensate for not knowing inventory, and there’s a big loss. By using software that provides tracking and transparency, returns can be reduced. Even a two per cent reduction would be a huge savings. In today’s world, if you need to make a decision, you must be able to make it instantly and have the ability to pivot, responding to both custom- ers and competitors. Without knowing these figures, you’re inhibited. If you don’t know how much is being spent and what can be trimmed, you can’t lower overhead costs or expenses. BUSINESS MANAGEMENT SYSTEMS DO YOU KNOW YOUR BUSINESS NUMBERS? Mike Dorris Cultura Seed Solutions Sales & Operations Manager @mikedorris1 Mike.Dorris@Culturatech.com Culturatech.com The numbers I’m referencing are cash flow, net income, profit and loss, sales, price point, gross margin and total inventory. What if you have the opportunity to hire that scientist who’s doing top notch work? You need to know if you have the materials and capital to sup- port that move. And who knows … you might have the oppor- tunity to buy a company or be bought. If you have to calculate these numbers manu- ally or even synchronize multiple files, by the time you get that information, the opportunity might have passed. This is where business management software can help. There’s software that allows you to track inventory, see multi-year sales history, view customer orders from previous years, as well as integrate into accounting programs. It’s important to note that you don’t have to accept the status quo. Just by knowing your num- bers, you might be able to get a hand-up on your competition.