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28 March 2019 | Story Thabo Kessah | Photo Thabo Kessah
Teboho Mofokeng
Postgraduate Student Council and SRC member, Teboho Mofokeng, says one degree is not enough.

Postgraduate studies play a crucial and critical role in the missions of our universities. They also contribute to the key and central mandate of the university – knowledge production, the dissemination, and application thereof.

The Campus Principal, Dr Martin Mandew, expressed this view during a welcoming function for postgraduate students on the Qwaqwa Campus. “Our Postgraduate School is the gateway that enables entry into higher degrees and qualifications. It is an extremely valuable resource and support reference point which is at the disposal of the students,” he said.

Postgraduate research and national development

Dr Mandew added that postgraduate research plays a very important role in national development, as it develops systematic investigation skills among young graduates for the purpose of making a contribution to what he termed ‘the national system of innovation’. “It also ensures that the country is competitive and enables the generation of knowledge that is responsive to societal needs, among others,” he said.

“Doing postgraduate studies is not easy,” he added. “Challenges that postgraduate students have to contend with, include funding and financial problems; lack of equipment; inadequate library facilities; access to research materials, and many more,” Dr Mandew said.

Support broadens knowledge and skills

In detailing the services offered by the Postgraduate School, the Director, Prof Witness Mudzi, assured students that they would experience an enabling environment to excel in the pursuit of their academic quests. “We will provide additional support to that provided by facilities and departments in the form of workshops, courses, and other presentations, which will equip the students with the requisite skills for successful completion of their postgraduate education.”

“The workshops and courses we offer are aimed at broadening your knowledge of research processes and methods. This would then positively influence throughput, publications, and the quality of research produced,” Prof Mudzi said to a packed venue.

Speaking on behalf of the SRC and the Postgraduate Student Council, Chairperson Teboho Mofokeng said that the event was held at a time when final-year students were asking themselves if it was worth continuing with postgraduate studies. “Do not take the decision to continue with your postgraduate studies lightly,” he said. “We work in a knowledge economy where specialised skills have significant commercial value. This means that in today’s competitive job market, it is often not enough to have only one degree,” said Mofokeng, a beneficiary of the school’s Mentorship Programme and master’s student specialising in Parasitology.

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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