Latest News Archive

Please select Category, Year, and then Month to display items
Categories
UFS News Media Release Research
Years
2017 2018 2019 2020 2021 2022 2023 2024
Months
January February March April May June July August September October November December
Previous Archive
06 August 2018 Photo Sonia Small
Karen Lazenby WomenofKovsies
Dr Karen Lazenby strives for a stronger, rule-based, and consistent governance structure.
A transformed University of the Free State (UFS) will be one that promotes social justice in everything it does, a university where its diverse people feel a sense of common purpose and engagement. The UFS is developing this through its Integrated Transformation Plan (ITP) introduced in January 2017. 

“The majority of the current systems and processes in student administration at the university are still manual. This lack of automation leads to inconsistencies and service failures,” says Dr Karen Lazenby. As Registrar for Systems and Administration, Dr Lazenby is responsible for ensuring a smooth and efficient student lifecycle across all three campuses. 

With the ITP, the Governance: Systems and Administration work stream strives to have a stronger, rule-based, and consistent governance structure with a single line of accountability in student administration across all faculties and relevant support departments on the three campuses. By ensuring this ease of use and access there will be an integrated student experience and greater empowerment of students.

“Our focus is on automation and self-services for students (such as the time-table, requests for additional and ad hoc exams and appeals), to ensure transparency and accessibility of rules and policies, decisions relating to admission, progression rules, awarding of qualifications and graduation and faculty and general rules,” Dr Lazenby said.  It will also entail the optimisation of PeopleSoftCampus (the Enterprise Resource Planning system).

“Through this automation, I would also like to get the university’s student administration to such a level that academic staff can focus their energy on teaching and research and student administration staff can focus more on quality assurance,” said Dr Lazenby.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept