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10 December 2018 | Story Leonie Bolleurs
Quantity Surveying
Winning national awards at the South African Council for the Quantity Surveying Profession’s 10th international research conference were, from the left: Prof Kahilu Kajimo-Shakantu with honours graduate student Melissa Moss, centre, and Mariska Karsten, a current honours student in Quantity Surveying and Construction Management.
Melissa Moss, a student from the Department of Quantity Surveying and Construction Management at the University of the Free State (UFS), has won the prestigious Association of South African Quantity Surveyors (ASAQS) Gold Medal Award 2018 for excellent performance at honours levels.

According to Prof Kailua Kajimo-Shakantu, the head of the department, this is an annual award which all institutions in South Africa that offer accredited Quantity Surveying programmes compete for. The adjudication process is undertaken by an independent panel consisting of several prominent academics as well as practitioners. The criteria for the award include; outstanding academic achievement and the individual’s involvement in extramural activities, contribution to community, social responsibility, personality and leadership qualities.

Aim for critical-thinking graduates

The achievement is in line with the department’s aim of developing, by means of dynamic scientific education, independent, critical-thinking, and well-rounded graduates who will become leaders in their field. 

Melissa, an honours student, received the premier award from ASAQS for excellent achievement over her four years of study.

The department is also very proud of Mariska Karsten. She was a runner-up for the ASAQS Future Leaders Award 2018 for excellent achievement over her three years of study. While the ASAQS Gold Medal Award has been in existence for decades, the ASAQS Future Leaders Award is a new category introduced in 2017 when the “inaugural” award was won by another of the UFS Department’s students, Gerné Bothma.

“Individuals such as these students of ours should be recognised, encouraged and nurtured so that they can reach their full potential and become the future leaders that not only the profession needs but also academia and the country as a whole. They are smart young people who show promise to contribute positively towards the profession. I have no doubt that they will serve the profession well with commitment, passion, integrity and creativity. I am proud of their achievements and the possibilities ahead of them,” said Prof Kailua Kajimo-Shakantu.

Both Melissa and Mariska received their national awards, presented this year at the 10th South African Council for the Quantity Surveying Profession (SACQSP) International Research Conference gala event held in Johannesburg. The conference was themed: The Quantity Surveying Profession and the Fourth Industrial Revolution.  

First female president of ASOCSA

Earlier this semester, Liane van Wyk, an honours student in Construction Management, presented and won the Best Student Research Proposal Competition Initiative at the 12th Built Environment Conference held in Durban. Liane, together with Prof Kajimo-Shakantu, and master’s student, Isabella Chandi, presented papers at the conference. 

A highlight for Kovsies at the conference was Prof Kajimo-Shakantu being elected and inaugurated as the sixth and first female President of the Association of Schools of Construction of Southern Africa (ASOCSA).

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


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