By Jeffrey H. Dorfman
This ebook analyzes the economics of the meals at each level among the farm gate and the kitchen counter.
Central to the textual content are agricultural advertising difficulties comparable to the allocation of construction among competing items (such as clean and frozen markets), spatial pageant, interregional alternate, optimum garage, and cost discrimination.
Topics coated should be helpful to scholars who anticipate to have careers corresponding to nutrition processing administration, foodstuff zone purchasing or promoting, eating place administration, grocery store administration, marketing/advertising, possibility administration, and product improvement. the point of interest is on genuine world-relevant abilities and examples and on instinct and monetary knowing above mathematical sophistication, even if the textual content does draw at the nuances of recent fiscal theory.
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Additional info for Economics and Management of the Food Industry
Example text
That is, profit margin = (total revenue total variable cost ) / total revenue v . 4) Pricing economics for food processors 23 Companies, with an eye both to covering fixed costs and earning a desired amount of profit, often set a target for the gross profit margin. 4) by the quantity, we can express the relationship on a per-unit, or average, basis: ofit margin = ( price average va variable iable cost ))1/ price. 5) for the price, we arrive at the target price needed to achieve a specified unit profit margin.
Another important supply chain management issue today is the risk of a disruption in the entire transportation network, generally as a result of either terrorism or a major natural disaster. After the September 11 attack, air traffic was grounded for a period of time. Many large companies, particularly auto manufacturers, now require their major suppliers to locate within a specified distance of their plant. In fact, new auto plants are now usually built with enough on-site acreage for suppliers to co-locate right next to the auto plant.
The basic assumption made in this chapter is that the buyers and sellers are motivated by profit maximization: they want to buy ingredients for as little as possible and sell the finished product for as much as possible so as to maximize the company’s profits. Profit maximization is not quite enough, however, to fully understand the behavior of the ingredient buyers and salespeople. After all, that just means that in each negotiation they try to get the best deal possible. So does everybody else. In some cases, the best deal possible would still leave the company losing money (after all, profit maximization does not mean that profit is positive, only that it is as large as possible).