; From Harvest to Sale: Managing Grain Inventories Using FAST | Conferences | AgRisk Library


Conference Name From Harvest to Sale: Managing Grain Inventories Using FAST

Travis Farley


Travis Farley, University of Illinois FAST Extension Specialist, will present “From Harvest to Sale: Managing Grain Inventories Using FAST.” Farm Analysis Solution Tools (FAST) are a suite of Microsoft Excel spreadsheets designed to assist those in agriculture make better decisions via user-friendly computer programs. FAST aids users in performing financial analysis, assessing investment decisions, and evaluating the impacts of various production management decisions. With women on the farm playing an essential role in recordkeeping, the Grain Inventory Management tool allows them to easily enter information to document grain production, sales, and transfers. They can print off reports detailing inventories for the farm operator and for landlords. Farley will demonstrate how this tool works.

The Grain Inventory Management program helps users manage and track grain inventories by grain owner, production location, and storage site. By entering information pertaining to grain owners, storage locations, fields, and commodities produced, users can record several grain transactions, including sales, production, transfers, purchases, fed to livestock, LDP’d, and forward priced. The tool stores grain transactions in a searchable database and generates three reports: Inventory by Grain Owner, Inventory by Storage Location, and Production Records.

The Grain Inventory Management tool helps producers manage production risk through the function of recordkeeping. The program is particularly useful for tracking grain for several grain owners and by numerous storage locations. Reports can be generated for each owner and location summarizing transactions, prices received, and current inventory.