Abstract
The dairy industry plays a vital role in the global food system, providing a wide range of dairy products that are consumed by millions of people worldwide. Dairy farming provides a daily source of income, creating employment opportunities not only on farms, but also in transportation, milk processing, and the agricultural supply and services sectors. The increasingly pressing challenges and the high competition in the dairy industry, particularly in saturated markets, emphasize the importance for farms to undertake a comprehensive economic sustainability analysis that extends beyond mere yield monitoring. Empirical studies have found a weak adoption of robust performance measurement and control systems in dairy farms. Given the intricate macroeconomic landscape in developed nations and the imperative to address the multifaceted challenges of the industry, this study employs a systematic literature review (SLR) to evaluate whether academic research offers adequate guidance on economic performance indicators. The study finds out that the current repertoire of indicators, while relevant and partially related to quality attributes, fails to encapsulate the intricate interplay of variables and the nature of economic sustainability, highlighting the need to adopt additional indicators into the dimensions of operational efficiency and effectiveness, strategic investments, and financial strength.
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