Benchmarks breed success

FARMERS CAN learn from the super<00AD>markets about how to survive in the freer market as the new system of decoupled subsidies unfolds, Tesco director Lucy Neville-Rolfe told the Agra-Europe conference.

Benchmarking was key to success, and Tesco was constantly comparing its results against its past performance and against its competitors”. Farmers should do the same.

Reducing costs was also essential, including making more use of contractors, looking for energy savings and reducing waste.

Working with others in the supply chain and sharing knowledge could also help. Tesco had set up a scheme with its staff for anonymous feedback about what was good and bad about its business, and was doing the same with suppliers.

Mrs Neville-Rolfe said there was also a culture of focusing on opportunity and meeting customer need, which farmers should emulate.