Industry: Luxury Goods / Jewellery

At a glance: MyntiQ Tech built a custom jewellery ERP that tracks gold, silver and gemstones from procurement and refining through manufacturing to retail. It combines a milligram-level metal weight ledger, live spot-price retail pricing, unified inventory, and RFID store and vault audits.

Overview

This case study details the deployment of a specialized enterprise resource planning (ERP) platform for a premier jewellery manufacturer and retailer. The platform tracks precious metals and gemstones from raw procurement and refining through design, manufacturing, and multi-location retail distribution.

Business Problem

The client operated with significant operational risk:

• Siloed systems across precious metal purchasing, production workshops, and retail stores made end-to-end tracking difficult.
• Tracking material loss and weight discrepancies of gold and silver during refining and polishing was manual and lacked accountability.
• Inaccurate store stock counts led to security concerns and delayed inventory replenishment.
• Product pricing was static, meaning store prices did not reflect rapid fluctuations in gold and platinum spot market prices.

How MyntiQ Tech Helped

MyntiQ Tech built a custom jewellery ERP system:

• Metal Weight Ledger: Developed a double-entry tracking ledger for metals, auditing weight down to the milligram across refining, casting, and polishing.
• Live Price Engine: Integrated real-time precious metal market feeds, automatically recalculating retail item prices based on spot prices and margins.
• Unified Inventory Management: Created a unified stock system spanning manufacturing centers, vaults, and retail display cases.
• RFID Integration: Implemented RFID-enabled store checkouts and daily vault audits to automate inventory verification.

Business Outcomes Delivered

• Achieved precise, real-time tracking of metal weights, reducing inventory shrinkage.
• Automated spot price updates protected retail profit margins during volatile market shifts.
• Reduced store inventory audit times from hours to minutes, improving store security.
• Optimized manufacturing cycles, matching workshop production schedules with retail sales velocity.

Frequently Asked Questions

How does a jewellery ERP track gold loss during manufacturing?
A double-entry metal weight ledger audits gold and silver weight down to the milligram across refining, casting and polishing, so material loss is recorded at every stage.

Can jewellery prices update automatically with gold rates?
Yes. A live price engine reads real-time precious metal market feeds and recalculates retail prices from spot prices and margins.

How does RFID help jewellery stores?
RFID-enabled checkouts and daily vault audits automate inventory checks, cutting store audit times from hours to minutes.

Looking for a jewellery or manufacturing ERP? Talk to MyntiQ Tech or browse more case studies.