Over the past year and change, the dairy industry has seen its fair share of ups (thanks to the high grocery demand during the COVID-19 pandemic) and lows (due to the growing popularity of dairy-free alternatives). The economic shifts and industry trends have left dairy farmers in a constant state of flux.
BPM Managing Director Russ Burbank examines this topic in a recent Progressive Dairy article. In the write-up, he says: “The recent volatility coursing through the dairy industry underscores the need for shrewd financial planning to ensure the continuing operability and profitability of one’s business. To that end, our advisory group has compiled its top three steps for businesses whose cash flows have been negatively affected by the turbulence in milk prices. We urge these businesses to take action immediately to preserve their financial health.”
He also provides some helpful financial preparation tips for dairy farmers to help them plan ahead.
Read the article on the Progressive Dairy website.
About Russ Burbank
Russ Burbank is Senior Managing Director with BPM's Advisory Group, where he has a history of demonstrated success advising public and private companies in transitional circumstances. His practice emphasizes technology, manufacturing, aerospace, energy, agribusiness and financial services.
Russ is a Certified Turnaround Professional and was formerly the Chairman of the national committee that oversees turnaround certification. Recent publications and presentations include: “The 5-Step Turnaround Process,” Dow Jones DBR; “Turnaround Process as Applied to Middle Market Companies,” Harvard Business School; “The Classic Five-Step Turnaround Process,” The Journal of Private Equity. Mr. Burbank was also honored with a “Turnaround of the Year” award for work he did at a Texas-based agri-biotechnology company.