By and large, ag retailers like to use three letter acronyms in their day-to-day operations. Most talk about getting a ROI (return-on-investment) from their equipment. Others mention how much N-P-K (nitrogen-phosphorous-potassium) they have in their warehouses. A few even channel mobile phone “text-speak” when discussing the day’s LOL (laugh out loud) moment.

 

But for the past few months, another three letter acronym has begun dominating the daily conversations at most of the nation’s ag retail outlets: PSM. Short for Process Safety Management, PSM requirements are federally-mandated rules many businesses have to follow in order to maintain their operations in the eyes of regulators. Traditionally, PSM standards have applied to such business ventures as oil refineries and food processors. However, broadening definitions and regulations now mean that ag retailers will also fall under these requirements as well.

 

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