Navigating the Traceability Imperative: A Call to Action for the Diamond Industry
The recent article from Rapaport News (https://rapaport.com/news/diamond-buyers-asking-for-too-much-origin-info-indians-say/) has spotlighted a pivotal issue within the diamond industry: the necessity of traceability. It's clear that the demand for source declarations for diamonds, irrespective of size, is more than just a passing trend. This demand is reshaping how we conduct our business, and the ramifications for those who haven't embraced traceability solutions are now front and center.
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Tools to trace a diamond's journey—iTraceiT, Sarin, Tracr, GIA, and Everledger—have been available for some time. These solutions offer more than just compliance; they provide a way to ensure continued trust and confidence in our products. The industry leaders who were quick to adopt these practices are now benefiting, showcasing a forward-thinking approach that aligns with the values of modern consumers.
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The predicament outlined in the article concerning sanctions and the resulting chaos is a consequence of the industry's slow collective response to change. But rather than being mired in frustration, this should be our wake-up call. Solutions like iTraceiT, which cater to small parcels and large stones, offer a way forward. They maintain traceability through all processes, be it splitting or merging—ensuring the origin story of the diamond remains intact.
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Why endure the struggle and risk of being the subject of such concerning news when adopting a traceability system suited to your business needs can pave the way for responsible supply and customer satisfaction?
Now is the moment to act. It's about equipping ourselves with the right tools and mindset to navigate the current landscape and future-proof our operations against stricter regulations down the line. Let's not wait to become a story about what went wrong. Instead, let's be the story of what it means to adapt and thrive.
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I urge my peers and industry colleagues to reflect on this turning point and to exchange ideas and strategies on how we can collectively ensure the integrity and trustworthiness of our supply chain. Whether it's iTraceiT or another system, let's share our successes and lessons learned. Together, we can solidify our industry's reputation for excellence and reliability in the eyes of all stakeholders involved.
We’re glad to be part of this conversation about diamond traceability… Our sub-surface technology places unique microscopic identifiers below the surface of a diamond, without affecting the surface polish or clarity grading. This creates a physical link between a specific stone and its grading report, blockchain record or branded jewellery origins.
Founder and Strategic Advisor, EL-RAN (Part of the Windiam Group)
11 个月Wakeup industry! Some solutions can be used now—iTraceiT, Tracr, Sarin, Everlasger, GIA, and more. We are using iTraceiT as we can manage the Traceability for large and small diamonds and even a combination of both when small melles diamonds surround jewelry with a center diamond. As many companies are already using, it is easy to buy from and sell to a dealer with iTraceiT. Including rough diamonds. But the most important is that the most brands love the iTraceiT origin report. In the last week, we have seen a lot of articles published on the requirements of retailers and dealers to have origin reports. It was clear that it is a significant concern for selling diamonds. So why not find a solution? Probably, some prefer to cry or complain rather than find a solution. Well, it's up to you, the CEO, the manager, and the owner to find the solution. The sanctions will not stop tomorrow, and the request for traceability and origin will continue to grow. I don't know how to contact the other solutions, but I can help you with @iTraceiT: Belgium's contact is Shavit Gaistman and Frederik Degryse
QA Manager at Sarin Technologies India Pvt. Ltd. (MBA | B.E. EC | ISTQB)
11 个月The diamond industry is indeed at a crucial point, and the call for transparent sourcing is becoming more urgent than ever. Early adopters stand to gain substantial advantages in this shift towards comprehensive traceability. Your article sheds light on a pivotal discussion that the industry needs to engage in.
Lecturer and consultant
11 个月Merci pour votre post Eyal A. J'aimerais en savoir plus.
ItraceiT Managing Shareholder
11 个月A wake-up call for the industry. #iTraceiT