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Thread: Calling all Bean Counters : Diamond Processing Operation

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    Calling all Bean Counters : Diamond Processing Operation

    Diamonds are high value commodities as we all know. Rough diamonds cost as much as $1000 per carat - a carat being 200 milligrams. A cut and polished diamond fetches 20 times more than the rough diamond from which it was formed.

    My question is: How does one control what happens inside a polishing factory?
    1) as an owner and
    2) as a customer who supplies the rough diamonds and pays for the cutting and polishing service.

    There are losses. That is expected, but how do you set up a control system to prevent you from being taken to the cleaners in the 2 cases mentioned above?

    I read this article and smiled inwardly as I imagine CA's running around trying to get a handle on what looks like a chaotic situation.

    Nine out of 11 diamonds in India are cut and polished in Surat, where nearly 450,000 diamond cutters and polishers work in nearly 4500-odd factories in grossly unorganized small and medium-scale.
    The complete article is here

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    I inspected a jewelry manufacturing operation once and the control method there was weight. You weigh the raw product going in for each task and the work area is set up to collect every fragment of debris produced from filing, grinding, polishing etc. for a weigh-in at the end of the task. Although this meant the worker operates in this incredible leather shroud-come-skirt, I couldn't help but marvel at the simple effectiveness of the method as a control measure.
    The trouble with opportunity is it normally comes dressed up as work.

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