The company offers new high-tech agricultural solutions to remain competitive
The company experiences substantial competition from other manufacturers of agricultural equipment. Therefore, it puts significant effort toward offering new products with the expectation that they will be received well in the marketplace. However, if these products do not end up being successful, the company can expect to suffer substantial losses in sales, in addition to losing customers. Also, the company is expected to experience great loss if it fails to offer solutions that are high-tech and focus around precise agriculture.
CompetitionIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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