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CDEP Management Symposium Agenda

CDEP Management Symposium has been approved for up to 9.25 Dairy AdvanCE continuing education (CE) credits for all 3 sessions. Dairy AdvanCE is a continuing education accreditation provider for dairy producers and other dairy industry professionals. Learn more here.

1:00 p.m. Welcome
Mr. Jason Karszes, Cornell University PRO-DAIRY

Lean Systems

1:30 p.m. Driving Continuous Improvement and Operational Excellence
Carl Lehrkind, Lehrkinds Coca-Cola and Mountain County Distributing
2:30 p.m. Break
2:45 p.m. Lean Process 1: Lean - Its' Not Just for Beef
Cheryl Jones, University of Kentucky
4:15 p.m. Break
4:45 p.m. Lean Process 2: Muda Not Mooing
Cheryl Jones, University of Kentucky
6:30 p.m. Dinner and Networking

Wednesday, February 27

7:00 a.m. Breakfast

Joint Ventures: Governance, Compensation and Exit Strategies

7:45 a.m. Skimming the Top: Key Steps to Successful Joint Ventures
David Chattleton, Tiverton Advisors LLC
8:30 a.m. Unlocking Joint Venture Value through Effective Governance - Part 1
Mike Fassler, The Family Business Consulting Group
9:15 a.m. Break
9:30 a.m. Unlocking Joint Venture Value through Effective Governance - Part 2
Mike Fassler, The Family Business Consulting Group
10:30 a.m. Break
10:50 a.m. Working Together: How to Get Paid!
Doug Claussen, K Coe Isom
12:15 p.m. Lunch
1:15 p.m. Breaking Up is Hard To Do: Exit Strategies
Shannon Ferrell, Oklahoma State University
2:45 p.m. Panel Discussion
3:30 p.m. Wrap Up and Summary
4:00 p.m. Adjourn

Session Descriptions

Topic Area 1: Lean Systems

Lean systems is a systematic method for waste minimization within a manufacturing system without sacrificing productivity or quality.  Implementation leads to better recognition and permanent solutions to disruptions of processes.  Presentations will discuss how lean principles can be incorporated throughout a business and what steps can be taken to implement principles into daily operations. 

Lean Process 1: Lean - It's Not Just for Beef (Cheryl Jones, University of Kentucky)
This session will discuss the background and philosophies of lean process, how to apply these principles daily and the benefits of standard work.

Lean Process 2: Muda Not Mooing… (Cheryl Jones, University of Kentucky)
This session will continue the lean process discussion, focusing on waste identification, techniques to use for waste elimination and basic problem solving application.

Topic Area 2: Joint Ventures - Governance, Compensation, and Exit Strategies

Agricultural producers form joint ventures to achieve higher economic value by working as a group on an activity important to each producer’s business. Whether or not the potential value is achieved hinges on effective decision-making and communications as they work together on their common interest. Presentations will discuss governance, compensation, and exit strategies related to joint ventures.

Skimming the Top: Key Steps to Successful Joint Ventures (David Chattleton, Tiverton Advisors LLC)
Learn and discuss best practices in identifying potential joint venture partners, determining optimal joint venture structures, and setting realistic and achievable objectives for joint ventures given the dynamic (and currently challenging) dairy markets. This presentation will also discuss common issues with JVs and how to avoid them, potential areas where it makes sense to employ a joint venture structure, and what parties involved in your business should be involved in helping negotiate and structure a joint ventures.

Unlocking Joint Venture Value Through Governance (Mike Fassler, The Family Business Consulting Group)
Agricultural producers form joint ventures to achieve higher economic value by working as a group on an activity important to each producer’s business. Whether or not the potential value is achieved hinges on effective decision-making and communications as they work together on their common interest. This program provides the foundation for determining HOW participants can best govern their joint ventures to achieve value from them. The impact on selection of the best governance structure due to factors such as the complexity of the activity, the overlap of joint venture management and ownership roles, the number of joint venture members, and the cultural norms of the group will be considered. Join us in this interactive discussion to determine how to best structure the governance of your joint ventures to unlock their full potential value.

Working Together: How to Get Paid! (Doug Claussen, K Coe Isom)
The dairy industry is evolving, and several new ways of working together are emerging.  In these arrangements, how do each of the stakeholders get rewarded or compensated for their input?  Please join us for a presentation and discussion around these new ventures and the practical methods for ensuring that each of the stakeholders receive a fair share.

Breaking Up is Hard to Do: Exit Strategies (Shannon Ferrell, Oklahoma State University and Ferrell Law Firm)
"Never go into business with someone without a good idea of how you could get out of business with that someone." There's value in that advice, and this session will talk about a slightly different take on another maxim: "Begin with the end in mind."  Whether it is because of a happy ending such as fulfilling your joint venture's objectives or deciding things are going so well you just want to merge, or if it's because things aren't working out and you need to stop the bleeding, discussing how you can part ways amicably before you join forces can make things a lot easier down the road.  This session will talk about the basics of several legal tools your joint venture can use to minimize the disruption and expense of breaking up an entity and equip you for the discussions to be had with potential joint venture partners to make sure you minimize the odds of a bad breakup.