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RAPAPORT... The Diamond Trading Company (DTC) hosted its first Business Excellence Seminar of 2007 on July 11, during its July sight. The seminar focused upon the key drivers that optimize financial performance for some 93 current sightholders.
Varda Shine, managing director of DTC, also discussed the realignment of the DTC into separate sales and marketing units. The move would enable the organization to focus clearly on its core distribution and marketing activities according to the company.
In realigning DTC the company reports it would drive value for producers by ensuring optimum, sustainable price for producers’ diamonds; providing a secure and sustainable channel to market; providing support and facilitation for sustainable local beneficiation. It would maximize value for clients by providing sustainable arrangements that deliver a stable and efficient supply of goods and by providing leadership and partnership for the sightholder community by giving access to DTC industry insights, expertise, market knowledge and technology which will help to build comparative advantage.
DTC's marketing unit would continue to focus upon driving consumer demand for diamonds across three core areas: The development and marketing of ‘big ideas’ like Trilogy and Journey; exploration and development of the Forevermark program; and by maintaining consumer confidence in diamonds.
Shine said, “In a similar manner to the ideas expressed in the speeches this afternoon, De Beers and the DTC have been actively looking at ways that we can operate more effectively and efficiently.
"To improve our offer to clients and our producer partners, we need to focus on being the world’s best rough diamond distributor. We have a clear vision of how to achieve this and this realignment will help us to deliver it,” Shine said.
De Beers' managing director Gareth Penny added that “De Beers is constantly evaluating all areas of the business to ensure that we remain highly competitive in a rapidly changing business environment.
"I fully support the DTC’s reorganization and would like to commend Varda for championing the process and driving it through.”
According to Shine there is a tremendous amount of activity going on at the DTC in preparation for the 2008 sightholder contract, and in establishing the company's marketing presence in Botswana and Namibia. "There are certainly challenges, but we are confident and fully committed to delivering the excellent service and delivery of supply that has always been the hallmark of the DTC,” Shine said.
Seminar speakers included:
• Peter Ryding – A strategic business adviser and executive coach who spoke about the processes and frameworks that can help to turn around organizations and drive profitable growth
• Lisa Porter – An entrepreneur and renowned corporate trouble-shooter who provided insight into diamond industry needs and the benefits of driving collaboration and partnership. She also gave an overview of the banking world’s perception of the diamond industry and what needs to be done to attract the support of the financial community
• Professor David Arnold – A former Harvard Professor, and currently Professor of Marketing at London Business School and Oxford University, who talked about brand value as an intangible asset and the role it can play in attracting investors and driving profitable growth
• Simon Gulliford – A senior level business consultant who discussed the current behavior and pressures on the retail sector and gave insights into how retailers and suppliers can gain distinct and competitive positioning through the development of strategic alliances
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