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Proposal of a Model to Measure Diverse Factors Influencing Value Addition in Jewellery

  • Parag K. VyasEmail author
Conference paper
Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 134)

Abstract

Value of an article of jewellery is dependent on many factors. These can be classified into two broad categories, intrinsic and extrinsic. Intrinsic factors are current market value bullion metal, precious and semi-precious gemstones. This part of the value chain is easy to understand and calculate. Extrinsic factors are largely in form of human efforts and machine work. Artistic work by craftsmen and artisans is highly valued for its individuality. Modern jewellery manufacturing is a combination of machine work with handwork. Machine work is relatively easy to calculate. Human effort in the form of handwork is measured as notional products per unit hour. This one-dimensional measurement does not give a realistic estimate of the cost. For realistic estimations, other factors need to be taken into consideration. This paper proposes a mathematical model for taking these aspects for calculating values of diverse factors individually and collectively.

Keywords

Mathematical model Value addition Multivariate analysis Jewellery manufacturing processes 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2019

Authors and Affiliations

  1. 1.Grau Bär DesignIndoreIndia

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