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21 May 2019 | Story Igno van Niekerk | Photo Stephen Collett
Digital storytelling
Collaborating for the common good are from left: Willem Ellis, Karen Venter, Dr Deidre van Rooyen, Prof Hendri Kroukamp, Bishop Billyboy Ramahlele, and Dr Johan van Zyl.
Prof Hendri Kroukamp, Dean of the Faculty of Management Sciences quoted the Cat Stevens song I can’t keep it in, to capture the excitement surrounding the opening of a Digital Storytelling Lab on the Bloemfontein Campus on 10 May 2019.

After months of hard work by Dr Deidre van Rooyen, Willem Ellis, Karen Venter, as well as the staff of the University of the Free State’s (UFS) Centre for Development Support, the Common Good First lab was completed just in time for the launch attended by about 50 delegates from other South African universities, as well as private and public institutions.

Stories meet technology

In a message, from Prof Puleng LenkaBula, Vice-Rector: Institutional Change, Student Affairs, and Community Engagement, informed the audience that the launch heralded the joining of the old world of stories with the new world of digital technology. Julie Adair, Director of Digital Collaboration at Glasgow Caledonian University, Scotland, welcomed the UFS as a partner to this international social innovation collaborative project in a video message. 

Dr Van Rooyen, the project manager for the UFS, explained how she got involved in the Common Good First project, what the benefits of digital storytelling are, as well as what opportunities the lab creates for cooperation between role players involved in social innovation projects. 

Why the Common Good First lab?

The purpose of the lab is to create a digital network to identify, showcase and connect social innovation projects in South Africa to one another and to universities around the world for research, student engagement and learning and teaching. The lab has been fitted with state-of-the-art equipment for recording and digitising the stories that result from social innovation projects.

In a live Skype session with Dr Il-Haam Petersen, Postdoctoral Research Fellow at the Human Sciences Research Council (HSRC), and some of the recent successes of the digital stories in Philippi in the Western Cape were shared.

Bishop Billyboy Ramahlele, UFS Director Community Engagement did the final honours by cutting the ribbon, declaring the lab open, and sharing the dream that the work done in this lab will contribute to positive relationships and cooperation between the university and the community, in making not only the university, but the country and the world a better place.


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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