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22 November 2024 | Story Leonie Bolleurs | Photo Stephen Collett
SARIMA - 2024
The Directorate Research Development at the university proudly participates in the SARIMA Visibility Project, aimed at enhancing its global visibility and research excellence.

The University of the Free State (UFS) has been selected to participate in a high-impact initiative managed and coordinated by the Southern African Research and Innovation Management Association (SARIMA). The SARIMA Visibility Project, which focuses on elevating institutional prominence, aims to enhance the university’s global visibility and strengthen its capacity to secure international grants. By participating in this initiative, the UFS is positioning the Directorate for Research and Development (DRD) to benchmark against other leading Tier 1 institutions, adopting best practices in research management and innovation to fuel future growth.

Key outcomes already underway

Since joining the initiative, the university has implemented several key interventions. Most notably, the development and execution of standardised operating procedures have been introduced. These procedures ensure alignment with global standards, creating consistency across various functions within DRD. Such efforts not only improve operational efficiency, but also boost the university’s competitiveness in attracting international research collaborations and securing funding opportunities. Other platforms to promote visibility that the DRD has adopted this year include its newsletter, Research Nexus, webinars, and a presence on social media.

The SARIMA Visibility Project at the UFS is spearheaded by the DRD under the leadership of Dr Glen Taylor. As pioneers of the initiative, the DRD team is working closely with SARIMA to ensure the successful implementation of key strategies aimed at improving the research infrastructure and elevating the university’s global standing. Their leadership has been instrumental in driving efforts to meet the project's ambitious objectives. These objectives include promoting best practices in research and innovation management across the region. They aim to support the research and innovation ecosystem to drive regional social and economic development. Additionally, the project seeks to engage key stakeholders to strengthen collaboration. Another objective is to building capacity among research and innovation management practitioners through training and development initiatives.

The SARIMA project is closely aligned with the UFS’s Vision 130, a strategic roadmap designed to propel the institution into its 130th anniversary in 2034. Vision 130 seeks to elevate the university’s academic and research standing on the global stage. By enhancing international partnerships and refining research management practices, SARIMA is playing an important role in supporting the university in its goal of becoming a globally recognised research institution, in line with Vision 130.

Value added to the research environment

In the few months since its launch, the SARIMA initiative has already added significant value to the UFS Research Office. The introduction of standardised procedures has not only improved consistency across departments, but has also made the office more agile and responsive to the demands of international collaborations. Benchmarking exercises conducted as part of the project have allowed the university to identify key areas for improvement, adopting innovative solutions that further enhance the institution’s research capacity and global visibility.

The SARIMA Visibility Project marks a significant step forward for the university. It is not only a means of raising the institution’s profile, but also a platform for long-term sustainable research excellence. As the UFS continues to benefit from this initiative, it is setting the stage for a future of global recognition and academic achievement that will benefit both the institution and the broader academic community for years to come.

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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