This article explains how the stone grid works, and how to manage it with your retail partners
Summary
Working with Stone Grids allows you to quickly set the prices of different jewelry components for your samples that have been pre-agreed with your enterprise retail partner. This tool makes the cost-submission process much faster, simpler, and free from mistakes.
The Stone Grid
The first thing to note is that the stone grid is set per trading partner connection. So, in order for you to see the stone grid for a particular retail partner, you first need to select them your Customer list.
Once you have selected a retail partner, you will see the first of two levels of hierarchy inside the grid. The first level provides higher level stone information, while the second level provides for more details about each stone. Below are the fields at each level with example values and explanations.
First Level - Stone
- Category - diamond, gemstone, and pearl
- Type - white, conch, and marcasite
- Cut - single, fancy, and faceted
- Shape - round, oval, and princess
- Colour - white, pink, and blue
- Grade / Clarity - I1, VS2, and VVS1
- Size Configuration - carat or mm
Second Level - Size
- Weight / Size - The range of weights/sizes, in carats or millimeters, depending on stone category
- Colour - white, red, and green
- Grade / Clarity - I1, VS2, and VVS1
- Certificate - GIA, De Beers, and GSI/GemEx
- Treatment - heated, coated, and diffusion
- Our Reference - this is loaded during sample upload for you to reference branded stones
- Internal Reference - this field is for you to internally reference this sized stone
- Calculation - per piece or per carat
- Currency - $USD, $CAD, and €EUR
- Quoted Price - the price you quote to your retail partner
- Approved Price - the price set by your retail partner
Note: The Colour and Grade / Clarity attributes may be seen at the Stone or Size level depending on the stone category.
Grid Building Process
The process of building out the grid is very straightforward, although it requires both you and your retail partner to participate in it. The following outline describes the process.
- Build Grid - Your retail partner must create a Stone Grid for your connection with them. If you do not see the stone grid that you need, then you can place a request inside the application.
- Quote Price - Once the grid is built, you can start adding your Quote Price to each row. You may see that when building the grid your retail partner has already started populating their Accepted Price for each row.
- Approved Price - If your retail partner has not already set an Approved Price, then you they will do so now after reviewing your Quote Price.
- Comparing Prices - After both the Quote Price and Approved Price have been set you can quickly see how the two prices company by viewing the color of the Approved Price.
💡 If Quoted Price is greater than Approved Price, the Approved Price will be highlighted in red. This indicates that further negotiation is required.
💡 If Quoted Price is less than or equal to Approved Price, the Approved Price will be highlighted in green. This indicates that your price has been approved.