DDC launches ‘Boomerang’ service

The Diamond Dealers Club (DDC) has initiated a service called ‘Boomerang’, in an exclusive alliance with TransGuardian, that is designed for diamond dealers to manage the return of shipments of high-value parcels of diamonds, including goods supplied to clients on memo. Using this service, the sender of high-value parcels can pre-select the return carrier, class of service, return address and return insurance amount when preparing the outbound shipping label.

The pre-set return label parameters are embedded in the packing slip that accompanies the outbound shipment. When an insured return is required, the consignee has to log at Boomerang.transguardian.com, and follow instructions. The service also provodes for setting ‘Boomerang defaults’, based on the urgency of the parcel etc.

"This is a solution to a major problem in the diamond industry," said Moshe Mosbacher, DDC President. "Diamond dealers send a large percentage of their goods out on consignment, or 'memo,' as we call it. Unlike jewelry or precious metals, a buyer often needs inspect diamonds visually to know if they will meet his or her client's needs. Consequently, about 50 percent of all outbound shipments come back in the normal course of dealing. To date, dealers have struggled to ensure that prospective buyers had a secure means of returning goods. This new service provides the dealer with real control."

According to Lou Rohde, Director of Member Services at the DDC, the service is also useful for dealers sending diamonds for certification at gem labs. "Before Boomerang, they would have to send their stones with instructions on how the labs should send the stones back. Boomerang's Dashboard puts total control of return details in the diamond dealer's hands.