Beyond the Box: Unboxing Innovation challenge

We are constantly striving to enhance our production efficiency and deliver the best to our customers. To achieve this, we are focusing on addressing a critical challenge:

As part of our continuous improvement efforts, we focus on enhancing the mounting process to reduce melting effectively. Your expertise and insights are crucial in identifying root causes and implementing impactful solutions.

As part of our ongoing efforts to enhance customer experience, we are focusing on reducing cart abandonment across our channels. One of the key challenges we're addressing is

Quality Control (QC) rejections occur when our jewelry products do not meet the required standards, leading to delays and increased costs. We are seeking your ideas on how to reduce these rejections by improving our production processes and enhancing product quality.

we have observed an increase in gemstone changes in the production. Gemstone changing refers to replacing gemstones more frequently than initially planned, often due to stones not meeting quality standards, breaking, or going missing during production.

We invite you to submit creative ideas to boost engagement, sales, and traffic in our "Rising Auction" section. Consider how we can attract more customers to participate in the auctions and what new features or strategies we can implement to make the bidding process more exciting and competitive. Your ideas could encompass marketing strategies, user experience improvements, gamification elements, or any other innovative solutions.

VGL's extensive jewellery manufacturing process, from gem procurement to finished jewellery, has led to frequent "short closes" or incomplete shipments. Last year, only 80% of our order value was shipped. We aim to achieve a 100% shipment completion rate this year and need your innovative ideas to help us eliminate bottlenecks in our supply chain. Please share your suggestions on the innovation portal or directly with the supply chain team.

Now, you might be wondering, what's all the buzz about? Let's dive in! Put on your customer hat and remeber the unforgettable unboxing experience you had while receiving a product, we want to share the same feeling with our customers!

Cost control isn't just a practice; it's the cornerstone of a successful organization. From streamlined workflows to strategic resource allocation, every initiative, big or small, contributes to the bottom line. Let's ignite your creativity and get your gray matter ticking! Share your unique ideas for "Savings and Cost Reduction." What innovative approaches tools, or solutions can we leverage to minimize expenses and propel us toward unparalleled profitability?

In the world of Technology, a company driven by automation is the new standard. To get on the driving seat of Innovation and Automation we are introducing the “Quest to Automation” process challenge. The goal is to automate repetitive tasks, ease the complexities of working, and streamline the existing process. This will allow us to reduce the cost of operation, save us time on manual tasks, and allow us Humans to think creatively without the burden of working on mundane tasks.

How can we accelerate our Journey towards Net Zero net zero refers to the balance between the amount of greenhouse gas (GHG) that's produced and the amount that's removed from the atmosphere. It can be achieved through a combination of emission reduction and emission removal

How Might we Improve the NPS for our channels? NPS is Net Promoter Score. NPS is a common metric used to determine customer perception and experience. Organizations use NPS scores to help find business areas that need improvement to create better customer loyalty. "How likely are you to recommend us to a friend or colleague?" are assigned a number on a scale from 0 to 10, with 10 being the most positive. Customers are then divided into the following three categories: promoters, passives and detractors. Promoters (score 9-10) are the most loyal customers and may refer others to the organization or service. Passives (score 7-8) are satisfied yet unenthusiastic and can be swayed by more competitive options. Detractors (score 0-6) are unhappy and can damage a brand with negative word of mouth.

Our organization is dedicated to improving customer experiences to surpass expectations and make lasting impressions. Our global initiative for "unreasonable hospitality" aims to enhance every touchpoint in the customer journey, consistently eliciting a 'wow' response. We aim to exceed mere satisfaction, seeking to pleasantly surprise, delight, and encourage customers to share their positive experiences.

How Might We improve the conversion rate of our digital customers? Current Conversion is in the range of 1 -2 %. Assume 1 million customers visit our website and only 10,000 customers buy from us. How can we take this conversion to 5%?

How Might We Increase the Average Product Purchase per Customer (APPC)? APPC means, currently the customers are buying an average of 10 products in a year with us, how do take this number to 40 products in a year.

How might we reduce returns across our channels and increase customer satisfaction without impacting our sales.

How To Get Rid Of Porosity or Pinholes During Jewelry Production. We are looking for quality ideas that lead us to get rid of porosity or pinholes during jewelry production.

How might we reduce the water and electricity consumption at Shop LC? We are looking for effective ideas that can be implemented to reduce consumption and lead us toward becoming a more sustainable organization.

The contribution of customers to IdeaLab is one of the main inputs for coming out with innovative products. How can we involve our active customers in contributing more to the Idealab?

How might we reduce the rejection of Gemstones and Diamonds at various stages of our production process? A major concern related to our jewelry production process is the amount of rejection of gemstones as well as the amount of rework done due to these rejections. The main reasons for rejections burning, breaking, and missing of stones/diamonds. We are looking for effective solutions to reduce these rejections.