Innovez One

INNOVEZ One developed the Gold Calculator feature for the goldsmith and jeweler who needs flexibility in the way they price their products. Most jewelers we have met over the years have a common requirement. Almost everyone of them uses a different formula to calculate their products’ pricing. This requirement spawned the development of the Gold Calculator feature; and merging it with EJS to produce Enterprise Jewelry Software – Version 2. The added value comes from helping the jeweler to beat the competition by customizing his unique price formula. Right pricing leads to business viability and profitability. This pricing formula is then applied to all the products he sells through EJS POS or Invoice modules.

CALCULATION

Consider the following example of a gold pricing formula:

( [ { ( FINE_GOLD_BASE x MANUFACT_LOSS } x MARK_UP ] + LABOUR_PRICE ) x UNIT_WEIGHT

The jeweler creates a formula, using the Gold Calculator, by clicking on some buttons.    He enters the known variables (in the left column) usually on a daily basis. These variables include:

• Manufacturing loss
• Mark-up rate
• Labour Price
• Fine Gold Base
• Unit Weight
• Total Weight
• Discount %

The operator uses the right column symbols to proceed with the calculation: plus [+], minus [-], divide [/], multiply [x], group  (“[' and ']“).    He uses the bracket symbols to group the smaller components of the formula.

Consider our example again: ([FINE_GOLD_BASE x MANUFACT_LOSS] x MARK_UP).   The operator uses two sets of open/close brackets to group operations on individual formula units.   First,  he works out the formula unit: FINE_GOLD_BASE x MANUFACT_LOSS.   Second, he multiplies the result by the value of MARK_UP.

Innovez One offers the Gold Calculator software, a new addition to its range of innovative EJS upgrades, to jewelers keen to sharpen their business edge.   The company invites your feedback and comments on this software and its features.   All relevant inputs are welcomed.

This product update is published by Innovez One in this series of updates to the RFID-enabled Enterprise Jewelry Software.   Updates that make a difference to its clientele’s business edge.

About Innovez One

Innovez One is a product-based systems consultancy registered in Singapore.   The company provides business solution packages comprising software products for niche markets in Education, Marine, Jewelry and Healthcare.   Innovez One aims to streamline, automate and boost business performance for clients in those key sectors.   Its clientele includes government-linked corporations and small and medium-sized enterprises in Singapore, Malaysia and the United States of America.