The Diamond Supply Chain and Its Sustainability

Published in: Megaprojects: Building Infrastructure by Fostering Engineering Collaboration, Efficient and Effective Integration and Innovative Planning: Proceedings of the 10th Latin American and Caribbean Conference for Engineering and Technology
Date of Conference: July 23-25, 2012
Location of Conference: Panama City, Panama
Authors: Ewa Rudnicka
Lauren Mamros
Branden Munshower
Brian DeRiggi
Refereed Paper: #138

Abstract

A diamond in the rough is very valuable. The ending piece of diamond jewelry, the highly sought after product, is worth much more. Information about the secretive diamond industry is not well-known, nor is it well-understood how diamonds have become a source of great value. In order to transform the discovered diamond deposits mixed in with dirt and rock fragments, diamonds must go through a series of processes. Supply chain management is the integration of activities that procure materials, transform them into goods, and deliver them to customers. The diamond supply chain consists of the diamond exploration process, mining, sorting, cutting and polishing, jewelry creation, regulation, and the selling of the final product. This paper describes the supply chain of diamond industry and discusses its sustainability.