This is a fairly common question right now in the dairy industry. More than at any time management is looking to know what did it actually cost to produce this product. I refer to this as the “retail consolidation effect” as margins continue to put the pressure on manufacturers. It started in other industries and is really starting to ripple through dairy industry. To get at the true cost of a dairy item, unless you are a cut/wrap operation or wholesale distributor, you eventually have to arrive at the tracking/costing for milk and dairy liquids at the component level. This is where the whole issue of dairy and traditional ERP (Enterprise Resource Planning) systems gets very complicated very fast.
Big Data” is one of the trendy buzz words of the moment in the tech world. You hear it on commercials for tech firms, see it in article headlines, and even on the radio. With all the conversation surrounding the concept of big data, it begs the question, what can be done with all of this information?