With Matt Stockton, Professor, Agricultural Economics, UNL; Shannon Sand, Extension Ag Economist, UNL
Using the right efficiency ratios can be critical in assessing the sustainability of productivity and profitability of irrigation and nitrogen resources. This webinar examines three different efficiency metrics, the Water-Nitrogen Intensification Performance Index (WNIPI), Dollar Return of Irrigation and Nitrogen (DRIN), and Net Return to Irrigation and Nitrogen (NRIN). Each measure has it strengths and weakness. The DRIN and NRIN rely on three factors, costs, revenues, and productivity. These two measures are easily to developed.
By understanding these simple metrics and apply them through time progress can be made toward individual business goals and objectives. The relationship of understanding the relationship between the biological and economic factors are explored remembering that both are important but not necessarily completely compatible in producing desired outcomes..