Herkimer Diamond Mines, Inc.

Generally you can differentiate the supply chain or supply network of Herkimer Diamond Mines, Inc. by two perspectives:

• The supplier side (a so-called Tier-1-supplier is a direct supplier, Tier-2 is a supplier of the Tier-1 supplier, Tier-n is a supplier at any level in the Herkimer Diamond Mines, Inc. supply network).
• The buyer side (a so-called Tier-1 buyer is a direct buyer, Tier-2 is a buyer of the Tier-1 buyer, Tier-n is a buyer at any level in the Herkimer Diamond Mines, Inc. distribution network).

To ensure business stability and continuity, a supply chain or supply network must be constructed in such a way that external influences can cause as little damage as possible to Herkimer Diamond Mines, Inc.. This applies both in the area of procurement (the loss of a supplier must be covered by an alternative supplier) as in the area of sales (the loss of a buyer must be covered by an alternative buyer).

Risks can generally be considered as the non-availability of goods, through cutback or complete halt of production, or the potential loss of business partners, violating compliance rules (e.g. protection of the environment, labor legislation) and thus drop out of the supply network.

This risk should not necessarily be limited to the direct business partner (Tier 1), it involves the entire supply chain, unless sufficient alternative suppliers and buyers have been put in place.

Get an overview of the international supply chain of Herkimer Diamond Mines, Inc. (upstream/procurement and downstream/sales) from Tier-1 to Tier-n

E.G.: Tier-1 Buyer Navodaya Exports

ABRAMS world trade wiki not only shows direct suppliers and customers of the first tier (Tier-1). With just one click in our tool Supply Chain Intelligence you get a comprehensive insight into the supply network with multiple tiers (Tier-n) beyond the first tier.

Each tier in the supply chain or supply network on the supplier side of Herkimer Diamond Mines, Inc. involves a single risk. The more tiers, the more difficult it is to analyze and monitor the business partners. Suppliers of suppliers are generally unknown, so there is already an increasing risk at the second (Tier 2) level.

If e.g. a first Tier supplier is not adding any value, the supply chain can be shortened and the risk of failure can be minimized by skipping this supplier. A previous Tier-2 supplier now turns into a Tier-1 supplier, which we call "go-direct". In our tool Supply Chain Intelligence as far as international suppliers are concerned, this analysis can be done with one click:

Analyze the potential of shortening and therefore stabilizing the supply chain of Herkimer Diamond Mines, Inc.

Based on the analysis of international bills of lading (bill of lading/ bills of lading/ BOL), a total of 5 different product categories that have been purchased by Herkimer Diamond Mines, Inc., can be identified.

These are classified by means of HS codes (HTS codes or customs tariff numbers).

For example, HS code 711311 classifies the following products:

„Articles of jewellery and parts thereof, of silver, whether or not plated or clad with other precious metal (excl. articles > 100 years old)". This HS code was sighted 84 times in total.

Get an overview of internationally purchased products by Herkimer Diamond Mines, Inc. with Company Transparency

The performance of a company depends fundamentally on its buyers. Therefore, a largest possible base of stable buyers is crucial. A total of 2 international buyers of Herkimer Diamond Mines, Inc. could be identified in bills of lading. For example, one of the buyers is the company Navodaya Exports, which has received 2 shipments.

An important destination country identified for the sale of products: India. 89 shipments of goods were shipped to this country in the period covered.

Get an overview of the international sales and its 2 buyers of Herkimer Diamond Mines, Inc. with Company Transparency.

Based on the analysis of international bills of lading (bill of lading/ bills of lading/ BOL), a total of 16 different product categories sold by Herkimer Diamond Mines, Inc., can be identified.

These are classified by means of HS codes (HTS codes or customs tariff numbers).

For example, HS code 710310 classifies the following products:

„Precious stones and semi-precious stones, unworked or simply sawn or roughly shaped, whether or not graded (excl. diamonds and imitation precious stones and semi-precious stones)". This HS code was sighted 39 times in total.

Get an overview of internationally sold products by Herkimer Diamond Mines, Inc. with Company Transparency

Each tier in the buyer side of the supply chain or supply network of Herkimer Diamond Mines, Inc. is adding value and therefore costs. The more tiers, the more expensive the product gets. Supply chains are normally not very transparent, trade secrets are part of the survival tactics in each stage of the value chain, especially for trading companies.

If e.g. a Tier-1 buyer from Herkimer Diamond Mines, Inc. that primarily trades products and doesn’t add any value (only fulfills the distributor function) it is possible to shorten the supply chain downstream giving a potential to optimize profit margins for Herkimer Diamond Mines, Inc.. A previous Tier-2 buyer now turns into a Tier-1 buyer, which we call "go-direct". In our tool Supply chain Intelligence as far as international buyers are concerned, this analysis can be done with one click:

Analyze the potential to shorten the supply chain and optimize the profit margins on the sales side of Herkimer Diamond Mines, Inc.

Each company contributes significantly minimizing risks for its buyers, through its own stability. Internal risks (endogenous factors) can be e.g. financially (financial ratios, free cash flow, balance sheets) or operationally (production, lead times). Since 2021, external risks have increased due to worldwide shortages and are an important factor as to whether a supplier such as Herkimer Diamond Mines, Inc. can itself reliably deliver due to external dependencies (exogenous factors).

To assess this, data analysis should be conducted to get practical answers:

Which buyers does Herkimer Diamond Mines, Inc. consistently sell to over a long period of time that can be identified as a good reference?

The more constant outgoing shipments of a company’s, the easier it is to assess potential problems for a supplier like Herkimer Diamond Mines, Inc.

Operational aspects like a stable supply chain, an in-house production and reliable logistics define sustainable performance.

Since 2021, global supply shortages have increasingly added external factors as to whether a supplier like Herkimer Diamond Mines, Inc. can deliver reliably itself through dependencies.

Based on the statistical trend of shipments (in terms of the number of shipments and respectively the quantity of goods) the current supply and performance capacity can be indirectly analyzed.

Here you can see an analysis of shipments by Herkimer Diamond Mines, Inc. to international buyers in the last few months with Company Transparency

Sourcing products as regionally as possible with short shipping routes and the use of sustainable materials define the CO₂ footprint and sustainability of the products of any company, including Herkimer Diamond Mines, Inc.

After many companies, predominantly due to cost savings, have been building their networks increasingly internationally for years, there is now an increasing trend of so-called “on-shoring” or “near-shoring”. Attempting to include suppliers who are the closest to the supply chain because of financial, risk, environmental and image aspects:

• Saving international freight costs, which have risen extremely since 2021.
• Minimizing risks caused by logistics problems (e.g. the Suez Canal obstruction in 2021)
• Attempting to reduce the carbon footprint when purchasing products.
• Setting and meeting sustainability goals for own products of Herkimer Diamond Mines, Inc.

Based on the development of current shipments (in terms of number of shipments and quantity of goods) and changes in international suppliers and routes, it is possible to analyze the extent to which Herkimer Diamond Mines, Inc. has already made efforts in recent months and years, to focus on environmentally relevant aspects, like carbon footprint and sustainability in its business activities.

Get an overview of the international shipments that have an impact on the CO₂ footprint, as well as the sustainability of Herkimer Diamond Mines, Inc.

Generally you can differentiate the competition of Herkimer Diamond Mines, Inc. by the purchase and sales perspective.

• Start the competitive analysis on the purchase side.
• Start the competitive analysis on the sales side.

Competitors of Herkimer Diamond Mines, Inc. on the purchase side (procurement of raw materials and components for production or distribution) are exposed on ABRAMs wiki under Competitive Intelligence, purchased products, classified by HS-Codes (e.g. 711311, 711790) or by top product terms.

Competitors on the sales side of Herkimer Diamond Mines, Inc. (selling raw materials or components for production or distribution) are exposed on ABRAMS wiki under Competitive Intelligence, sold products classified by HS-Codes (e.g. 710310, 711311) or by top product terms.