Importantly, the company plans to leverage the domain knowledge of its India operations in this sector for global deployment of the solution.
JD Edwardss managing director- Asia KC Yee explains that globally the company is focused on verticals like manufacturing, trading and logistics, engineering and construction. The companys focus in India, in addition to these, is on sub-segments like gems and jewellery manufacturing and shoe and leather manufacturing.
The solution has been developed in conjunction with Systime Computers. Before the company set up its subsidiary this year, it was represented in India through its partner Systime Computer Systems, an IT services provider for collaborative commerce solutions.
JD Edwards director, business development India sub-continent, Neil Dibb said that diamond trading is difficult to manage with the regular ERP systems. A major challenge in this sector is that diamonds are measured in carats, size and quantity.
Apart from these, softer measures of purity like quality, colour and competency levels of the labour unit are factored into the costing process. These factors and variations within them make the product costing exercise very complex.
Since this industry deals with very high-value commodities, reconciliation in terms of number of stones & carats after every process becomes mandatory. The various steps of cleaving, cutting and polishing to arrive at the finished diamond entails an extended process. The challenge lies in streamlining the production process to minimize the difference between anticipated yield and actual yield at the end of every step by effectively integrating a quality control mechanism.
Some of the components of this IT solution are a Packet Monitoring System (PMS) that correlates the carats, numbers and labour competencies, Master Series System (MSS) which is a specialised template which manages the assortment of pre- and post- production diamonds and Suggested Least Selling Price Calculation (SLSP) that derives selling price through standard industry practice methodologies.