The diamond industry stands at a crossroads. Two trends are affecting its future – the increasing influence of digital technologies and the growing significance of lab-grown diamonds. Digital technologies are redefining business models and affecting all segments of the value chain.
There is a pressing need for the diamond industry to adapt to the new challenges posed by digitization and changing customer expectations. The way forward has always been innovation, so there is a clear trend for market leaders in the diamond industry to embrace the change and move forward.
Established in 1941, Coborn is a leader in the supply of machines for the diamond tooling industry. Coborn’s machines are designed for processing the world’s two hardest and most extreme materials: diamond and its structurally similar sister cubic boron nitride. A pioneer in the diamond industry, Coborn designed the first Reciprocating Grinding machine for producing Polycrystalline Diamond tools. It comes as no surprise that 80% of all high-value diamonds are polished on a Coborn scaife.
Coborn’s RG9A is a fully automatic, high precision grinding machine designed to meet the sophisticated demands of toolmakers working with both hard and ultrahard materials. It has all the characteristics, functions, and capabilities needed to minimize tool production costs. The partnership with relayr not only turns Coborn’s grinding machines into smart ones but also makes the expansion to new markets easier – automotive, aerospace and defense, construction, healthcare and pharmaceuticals, etc.
CNC machines are widely used to produce high precision metal parts for various industries around the globe. The main benefit of smart CNC grinding machines lies in their ability to optimize production, enhance productivity, and guarantee accuracy. Smart CNC machines are easily adjustable to the strictest requirements, which makes them a natural choice across industries. The automotive industry, for example, is one of the largest users of diamond tooling. Diamond tools are used to make engine block holes, internal engine galleries, grinding wheels, and much more.
Utilizing relayr’s AI-based analytics, Coborn can determine and resolve machine failures in advance. Thanks to the preemptive service, Coborn will be able to offer machines with guaranteed performance and availability targets. Each machine comes with an insurance policy for further guarantee.
Thanks to the partnership with relayr, Coborn is embracing the pay-per-use business model for their equipment. Coborn‘s diamond grinding machines are not sold as before but made available for a usage fee. The Equipment as a Service (EaaS) model makes Coborn’s products easier to finance for companies in the diamond industry, especially in emerging markets.
Coborn is moving away from the limitations of the capital expenditures (CAPEX) model. The operating expenses (OPEX) model offers flexibility and scalability. The OPEX business model eliminates costs, increases revenue streams, and builds stronger customer engagement. The benefits at a glance:
- NO LARGE UPFRONT INVESTMENT IN EQUIPMENT
- STABLE AND PREDICTABLE FINANCIAL FORECASTS
- GREATER COST TRANSPARENCY FOR CUSTOMERS
- HIGHER MACHINE RELIABILITY, AVAILABILITY, AND PERFORMANCE
- HIGHER CUSTOMER SATISFACTION THANKS TO PROACTIVE SUPPORT
If you’re eager to learn how we can support your business in pivoting to ‘As-a-Service’ model just fill out the form, and we’ll contact you shortly.