Jewel - Diamond & Stone Inventory

A successful diamond business relies heavily on inventory management of diamonds and other precious stones to ensure that they have the right balance of these stones to satisfy customer demand. The Stone Inventory module would manages and stores parameters, size and costs of individual stones as well as lots to help achieve the organization’s objective of having an optimum diamond inventory level. The level of inventory tracking that is enabled in this module can lay the foundation for improved purchasing, sales and pricing policies

Integration with our Sales Order, Purchase order & Contractor Modules Inventory Control can lead to an improved and cost effective manufacturing solution.

Module Highlights

• Linked with the contractor module thereby ensuring automatic updation of the stock
• Various stone parameters such as color, quality, stone size, shape and sieve size can be set
• Provision to filter records on Accounting Periods, dates, categories etc.
• Adjustment entries can be recorded directly in the receipt and issue forms
• Unique transfer option for exchange of stock between one or more items
• Facility to copy an existing record to a new record thus avoiding repetition
• Stock level reports like Reorder Level and Negative Stock Statement for analysis can be generated
• Prints registers for Receipts, Issues, Adjustments, Lot mixing and Stock It records stone receipts, issues, transfers and manages adjustments and transfer entries in a unique way

Setup

• Stone Parameter
  This is used to define parameters for the stones used .The broad parameters allowed are shape, size, quality, color, setting type, clarity etc. Every level of the parameter can be assigned an ID.
• Stone Lot Group
  All stones in the inventory are categorized into different sets based on pre-defined parameters .A collection of stones having similar characteristics is called a lot.
• Stone Packet
  Each lot can be sub divided into sub lots and further into packets. Diaspark Jewel uses this kind this kind sub division that is unique to the jewelry industry.
• Stone Query
  This feature that can be used to perform a quick search for stone packets and other related details.
  

Transactions

• Stone Receipt
  Stones can be received from vendors, from other units within the company or from customers as returns. These receipts can be recorded using the Stone receipt option.
• Stone Issue
  When stones are returned to the vendor or sold to customers, stones are said to have been issued from stock. Such issues are recorded using the Stone Issue transaction screen.
• Stone Transfer / Lot Mixing
  When stones are transferred from one business location to another the Stone Transfer option is used.
• Stone Set Create
  The stone set create feature is used to when different stones are combined to make a set.
• Stone Set Break
  This reverses and / or edits the stone set that is recorded in the above option.
• Stone Bar Code Tag
  Bar Code can be generated for a stone using this feature. Using this minimizes the errors that may occur while manually feeding in data.
• Physical Inventory (Stone)
  • Entry
    Details of the existing stones available in stock along with their price is available in this section.
  • Make Transaction View Only
    Transactions that have been entered into can be made as view only to ensure that they are not altered. This can be done for a particular transaction or a range of transactions.

Reports

• Stone Receipt Report
  Gives the entire list of stones that have been received from various sources as well as the corresponding prices. These reports can are customized to view with respect to lot no, or with respect to date.
• Stone Issue Report
  Gives the entire list of stones that have been issued from various sources as well as the corresponding prices. These reports can are customized to view with respect to lot no, or with respect to date. This can be obtained for a given date or range of dates.
• Stone Transfer / Lot Mixing Report
  This would give an insight into the quantity of stones that have been transferred internally.
• Stone Stock Report –Current
  This gives the total quantity of stones in stock .It gives quantities with respect to the lot numbers, aging days, reduced cost and weighted average cost of the stones. With the aid of this report the management can accurately ascertain the movement of stones and the impact of non-moving precious stones on their business profitability.
• Stone Stock Valuation Report I
  This gives the valuation of the stones based on various methods of costing that are applicable. Variations obtained are on basis of standard cost, price average cost, average price or on basis of remaining value.
• Stone Stock Valuation Report II
  This is similar to the above but takes into consideration lot no, size, no & packet numbers also. This would enable the management to gauge their stock valuation with respect to different parameters.
• Stone Lot Price List
  This gives a complete list of all stone lots available in stock. This report is also available in different variations to enable the management to take better decision.
• Stone Lot Master
  This gives a complete list of all lots and sub lots that have been created .It has details of the characteristics of each lot like carats, shapes, colors etc.
• Stock Variance Report (Stone)
  This gives a report of the variances that have been spotted either in the physical inventory or in the book inventory.
• Negative Stock Report (Stone)
  This report is used to ascertain accurately as to which stones need to be reordered since they are not currently available in stock. The availability of this report frees the user from conducting a physical inventory check to find out the stones that need to be reordered.
• Set up Reports
  • Stone Parameter
    This gives a complete printable list of all stone parameters that have been defined in the set up option.
  • Stone Lot & Group
    A complete list of stone lots that have been recorded in the system