I am not familiar with the diamond/jewellery industry. But I know that its business process can be re-engineered just like in any other industry. It may not come in the form of a transformational change, but at least an incremental one. The question will always be whether the stakeholders are willing to make changes and whether they value the changes. This is an interesting article of how a start-up company is trying to disrupt the diamond trade. Check it out!