GRDC Research, Development and Extension Plan 2018-23

GRDC Key Investment Target 3.8

Impact

Growers sustainably optimise their return on investment through better management of capital and running costs.

Summary
  • Growers seek to optimise profits through efficient use of current capital expenditure and running costs.
  • Growers seek new and novel engineering solutions in finance, technology, labour management, automation and machinery to deliver efficient cost management.
  • Growers develop novel business model opportunities to enable efficient cost management and deliver operational improvements (where technology is rapidly evolving, climate variability is ongoing, and sustainability credentials are increasingly relevant).
SCOPE INVESTMENT OUTCOMES
Increased current on-farm cost efficiency

Current capital (fixed) and running (variable) costs are optimised, based on business structures, business life cycle stages and agroecological zones, to improve grain grower profitability.

  • 3.8.1
    Growers understand their farm business performance across financial, operational and social metrics, and the grains industry invests in RD&E to support on-farm resource optimisation.
  • 3.8.2
    Growers are more efficient or have improved approaches to the management of on-farm and post-farm-gate costs.
New engineering solutions for more efficient cost management

New engineering solutions enable cost management efficiencies through data and digital technologies, automation and/or robotics and labour optimisation.

  • 3.8.3
    Growers understand and increasingly adopt digital technology to increase efficiency and decision-making adaptation across their businesses.
  • 3.8.4
    The grains industry has access to new validated (or updated) engineering options that reduce fixed and variable costs.
New novel business model opportunities for more efficient cost management

Current capital (fixed) and running (variable) costs are optimised, based on business structures, business life cycle stages and agroecological zones, to improve grain grower profitability.

  • 3.8.5
    The grains industry has new business model opportunities to increase on-farm resource use efficiency and value capture.
  • 3.8.6
    Growers have profitable alternative or re-engineered capital and operational asset models that underpin farm businesses and annual operations.
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