circumstances might “ free diamonds ” encounter order amplification B u s i n e s s F i n a n c e
Congratulations! You have just been hired as the Operations Manager of “Free Diamonds”, a new owner-operated specialty diamond jewelry store. The company’s vision is to import and sell only diamonds that are guaranteed to be labor-abuse free (“conflict-free” & “fair-trade”). Historically, the diamond industry has been notorious for engaging in unethical business practices; hence the term “blood diamonds”.
As Operations Manager you have been tasked with ensuring all imported diamonds are certified as “conflict-free”. However, the process to accomplish this is time consuming, requires much effort, and ultimately is more costly than obtaining uncertified diamonds. You have found yourself facing a dilemma. How will you compete with other jewelers that do not uphold the same ethical standards as “Free Diamonds”?
The company owner/operator is old-school (smile) and has asked you to: “call around and check out the competition”. As a highly trained Operations Manager, you know there are more efficient ways to begin the competitor analysis. However, the owner has insisted that you call one local jeweler.
2. Call (yes, by phone) 1 jewelry store in the state of Florida (outside of Highlands County). Speak with a sales associate and obtain the following information:
- The first name of the person you spoke with
- Who the company’s diamond suppliers are
- Where the company’s diamonds are sourced (mined)
- Whether or not the diamonds are fair-trade certified/ conflict-free
3. Select 1 topic from the list below, that piques your interest. Formulate a 1-2 paragraph analysis.
- What factors could influence a push system at “Free Diamonds”. Explain
- Under what circumstances would “Free Diamonds” use reverse logistics? Explain
- Under what circumstances might “Free Diamonds” encounter order amplification?
- How would supply chain optimization benefit “Free Diamonds”?
- Is the diamond industry a goods-producing supply chain? Explain.
- What processes would be involved in the “Free Diamond” supply chain?
- Discuss the purpose of a goods producing supply structure within the diamond industry.
- Read the following article examining DeBeers (a global diamond conglomerate) and briefly summarize the process of utilizing blockchain:
5. Use the attached Word template to complete your assignment.
Its alot of information not a long assignment