For generations, the diamond sector has been shrouded from the masses behind a very distinguished curtain. However, for anyone behind the scenes within the industry, they were faced with a disorderly flow down the entire supply chain.
Today, the industry is presented with a bright light at the end of a very dark and inefficient tunnel. Sarine is bringing to an age-old industry an array of AI and data-based solutions that all share the common goal of complete transparency down the pipeline.
What Transparency Means for the Diamond Industry
In simple terms, transparency for the diamond industry means sustainability using data ,accuracy, and consistency. Overall, it will succeed in bringing about a tighter midstream, faster transactions down the supply chain, a massive relapse of dead stock, money saved, an unforgettable sales floor experience for customers and overall traceable and sustainable diamonds.
From The Mine to the Machine
The process of diamond transparency begins at the mine and flows forward. The moment a diamond is processed through Sarine’s multiple devices and systems, its data is collected and stored in the Sarine cloud system. The newest fully robotic device currently undergoing beta testing, the Sarine AutoScan™ sets the bar for transparency and the scalability of traceability pretty high. It has the ability to rapidly scan and weigh multiple stones, while simultaneously collecting and storing their data.
Sarine CEO David Block said, “The Sarine AutoScan™ system is an important additional step in our full traceability solution and enables us to provide not only the most comprehensive verifiable database solution, but also to do so in a truly scalable manner with minimal operational overhead, costs or delay.”
The faster it takes for the rough to be weighed and scanned for data, the faster it can flow down the midstream for rough planning and polishing. From there, things really take a revolutionary turn.
Sarine’s Revolutionary eGrading™
With traditional 4Cs diamond grading, the dream of complete transparency and efficiency down the pipeline will always come with a hint of discrepancy, as it's a subjective process. Sarine’s eGrading™ is completely AI-based, which means it doesn’t need rest, nor does it fall into distraction. Most of all, thanks to its machine learning capabilities, it only gets better at its job as time and functions in a way that is precise and consistent and ultimately, it delivers a 4Cs grading that cannot be disputed.
This solution is one of the key factors that’s pushing an unorganized supply chain into a state of recovery. It does so by being an in-house solution and cutting the chain short. No more sending diamonds back and forth and no more long waits. With eGrading, transactions become shorter, money and time are saved and the amount of dead stock currently building in the pipeline will be reduced.
Transparent Journey into Your Diamond
Today's leading diamond consumers are mostly made of Millennials who look at diamonds with a hint of suspicion. Unlike previous generations, who treasured a reduced price and a gleaming shine, the modern consumers value luxury goods that are fully sustainable.
Thankfully, Sarine has put its verifiable data to use and has concocted the fully digital Diamond Journey™ report. It takes customers on a transparent trip into the origin of their diamond, all the way from the mine, through the planning process and to the retailer, giving consumers the assurance that their diamond is fully sustainable and hasn’t been unethically sourced.
The Sarine Diamond Journey™ report pushes transparency with a few extra touches that won’t be found anywhere else. We’re talking about the Diamond Journey’s 360 diamond experience. It is an exploring tool that takes consumers into the interactive sphere by enabling them to move and explore their diamond at any stage via their mobile device.
While the Diamond Journey report does wonders for the customer, it can even do more for the retailers. Here’s the how and why.
The Sarine Traceability Ecosystem
Amid key players across the pipeline, transparency’s essential role within the diamond sector is starting to become recognized. Thus, they are beginning to join and reap the benefits of the Sarine Traceability Ecosystem. With the rise of eco-conscious consumers, anyone can see that transparency down the pipeline won’t only present a sustainable diamond, but in the long run will sustain the diamond industry as a whole.
Most recently the Aura Blockchain Consortium, founded by LVMH, Prada Group, Cartier, part of Richemont, and OTB Group, has chosen to partner with Sarine in relation to Sarine’s Diamond Journey™. Daniela Ott, Secretary General of Aura Blockchain Consortium said, “By partnering with Sarine in relation to Sarine’s comprehensive traceability technology, we are establishing a one-of-a-kind technological solution with significant added value to both luxury brands and their customers. This new solution will provide complete transparency on product sourcing history and verifiable authenticity documentation.”
French High Jewellery Maison Boucheron also recently joined the Sarine Traceability Ecosystem. Hélène Poulit-Duquesne, CEO of Boucheron, stated that “Our vision is to lead the jewellery market in its effort to a more sustainable world. This can be achieved only through reliable, secure data and transparency, to which we are committed. Our eco-system of partners enables us to provide our customers with products that are not only of the highest quality and design, but which also conform to the ethics we believe in.”
Closing Thoughts…
With an increase of transparency, we’re looking at a diamond industry on the brink of revolutionary change. We’re talking about a smooth supply chain, added value to gems, sustainability, renewed confidence in diamonds on a wide scale, and saved money and time across the industry. However, what is the driving force behind these transparency-based changes?
In the words of our CEO David Block, “The answer is very simple — it’s data — but [also] very complex, because data is not something simple. It’s using the data in the right way and along the entire pipeline. I believe that what will revolutionize the supply chain is more and more availability and the use of data intelligently.”