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DiamBook
Diam book is a product developed for the diamond manufacturers specifically, to ease their operations.
Business Issues
The diamond trader purchases either a rough stone or a polished clubbed stone. Before selling the stone to the manufacturer or, before going ahead with in-house manufacturing.
When selling to the manufacturer, the trader has to ensure that the value and carat of the diamonds match. When the diamonds are purchased in bulk.
When the manufacturing issue is received, the trader has to shell out labour charges. These charges are determined per carat or per piece.
The stones can be purchased either in the domestic markets or international markets. If the trader is importing diamonds.
Some of the stock is either not processed at the manufacturer’s end or does not go into manufacturing. This stock is not managed by the inventory.
As mentioned earlier, every diamond has several parameters. What parameter plays a major role in the valuation of the diamond is important in calculating the selling price.
Adding the diamonds to Rapaport, the international benchmark, and other benchmarks meant adding excels, adding the prices etc. This was done manually.
The Solution
The Diam book is the solution we offer the diamond traders
The traders can assort their rough/loose stones based on the algorithms defined in the system. These help maintain a record of the stones purchased.
Before selling the diamond, the trader can value the diamond, and also put a price to the carat. The system will help value the diamond bought.
The labor charges are managed by the system whether it is per carat based or per piece based labor charge.
The taxation and other charges that come along with purchase of the diamond is defined into an algorithm, which is dynamic.
The system will keep a record of the diamonds that have been processed, that cannot be processed and that will not be used by the manufacturing department.
There are 70+ parameters for the diamond. The system allows in-house people to predict the parameter that will shine and be responsible for the diamond valuation.
The system allows you to mention the price for the parameters along with the discount pricing suggested by the Rapaport.
Selling the small size requires the cost price, the labor charge and other admin charges to determine the selling price.
The system fetches the certified diamond data to help in determining the selling price for the diamond.
With a single click, you can upload the entire diamond inventory to the Report and generate enquiries from there.
The system has been integrated to all the international benchmark institutions for diamond.
When selling the diamond, the age of the diamond is taken into account. The system makes sure that the diamond is up for selling, when it comes of age.
The stones need to be managed based on the note as well as from stone to stone.
Results
- The company has improved the bookings by multiple manifolds since the system was created
- The number of conversions have gone up as against the number of dismissals
- The company has held 7 successful events since the system went on floor.
