The economics
of farm mechanization management is indisputably, this is one of the most vital
aspects of farm machinery management, in as much as the farmers procure farm
machinery mainly to increase their net realizable benefits. Generally, the
yearnings of good farm managers are angled towards investments that earn a
satisfactory return.
This aspect
of management in economics of farm mechanization includes important financial
decisions, plans and methods of selection of suitable types (machines), models
and sizes of equipment. Furthermore, it also involves the determination and
control of costs when using farm machines, planning profitable work by adequate
tractor – implement compatibility and so on. There should be economic
justification to own a new machine rather than a used one or own a used one
rather than a new one or hire a machine instead of owning a machine at all.
The important
of equipment record – keeping cannot be over – emphasized as it is not only
used to facilitate speedy execution of maintenance works but also effective for
the economic operation of the machine as well as providing qualitative basis
for managerial decisions.
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