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16 September 2020 | Story Xolisa Mnukwa | Photo Supplied
UFS Division of Student Affairs plans to extend their annual research colloquium to involve other universities, establishing the university as a pioneering institution of higher education and learning.
The annual University of the Free State (UFS) Division of Student Affairs Research (DSA) Colloquium aims to promote a culture of research embedded in data-driven and evidence- based practices in the field of Student Affairs. The purpose of the annual colloquium is to create a safe, enjoyable space for staff members to share their experiences, knowledge, research and practices.

The 2020 Student Affairs Research Colloquium was the first virtual Research Colloquium held by the university. As noted by DSA Researcher Ruben Langenhoven, this year’s theme Virtually Human: Connecting Meaningfully in a Digital World was inspired by the challenging times we live in, and thus commemorated the resilience and adaptability UFS Student Affairs practitioners, academic staff and students. 

As most of the projects and programmes in the DSA were negatively impacted, the Colloquium was threatened by a lack of “hard data” emanating from the 2020 academic year. The division consequently decided to reframe the colloquium by profiling distinct human voices that focused on qualitative experiences. As such, this Colloquium comprised of numerous sections where the emphasis was placed on shared experiences and shared understanding where UFS staff members and students discussed the challenges they faced in the last six months.

DSA staff engaged one another with staff and student-centered lived experiences, and professional staff development sessions that visited the impact of technology on their psychological well-being and how to improve their relationship with technology in light of the COVID-19 pandemic. Also forming part of the programme that will inform the future of the division going forward, reflected DSA success-story presentations of the past year. 

The colloquium proved as beneficial for the DSA and the entire institution in its pursuit of a research-based working approach within the Student Affairs discipline. 

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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