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Diamond Lil Leasing (DLL), located in Beverly Hills CA, purchases diamond earrings, necklaces, bangles and rings from almost totally impoverished movie stars (ATIMS) of a
Diamond Lil Leasing (DLL), located in Beverly Hills CA, purchases diamond earrings, necklaces, bangles and rings from almost totally impoverished movie stars (ATIMS) of a certain age, and leases them by the hour to newly rich wannabe beautiful (NRWB) clients. The following narrative describes some of DLL's business processes.
DLL's purchasing agents negotiate with ATIMS for the purchase of diamond jewelry that meets DLL's exact criteria. Every purchasing agent is an American Gem Society (AGS) certified diamond appraiser, and the purchase price for the jewelry averages between 10 and 20 percent of the appraised value. ATIMS are guaranteed to receive payment for their gems within 24 hours of delivery of the jewelry to DLL. Payments are always made in full for each delivery.
DLL employs state-of-the-art GPS (global positioning system) technology to safeguard the jewelry. Each item has a unique identification number, which corresponds to the tracking device that DLL embeds in the jewelry settings. Each jewelry item is assigned an AGS grade, and DLL keeps track of all AGS grade classifications. Each AGS grade provides information on a jewelry item's total weight, overall clarity and color. Information is not recorded on each individual item until the purchasing agent is sure the jewelry purchase will be completed (sometimes there is a lengthy negotiation process).
Each jewelry item is also classified by its documented ownership history, known as its provenance. Prior ownership by a very important person may result in a significant increase in the value of the jewelry item. Provenance information is only added to the database if at least one related item is being added due to the uniqueness of these very valuable jewelry items. In some cases, more than one jewelry item may be assigned to a provenance code.
Each ATIMS is assigned to a purchasing agent and purchasing agents work diligently to cultivate quasi-personal relationships, remembering them on birthdavs and holidays, in an effort to generate multiple purchases and meet other potential ATIMS. An ATIMS is assigned to exactly one purchasing agent. Each purchasing agent has an annual expense account budget which is a function of their prior year's productivity and the number of ATIMS they are assigned. They use their expense account to schmooze current and potential ATIMSs. Of course, purchasing agents are number of ATIMS they are assigned. They use their expense account to schmooze current and potential ATIMSs. Of course, purchasing agents are required to keep track of all ATIMS schmoozing (i.e. a PA/ATIMS contact) and the related expenses (lunches, dinners, token gifts etc.). Purchasing agents cannot under any circumstances exceed their annual budget; if they exceed the budget, they are not reimbursed. Sometimes a purchase is not a result of PA/ATIMS contact however, that happens only about 2% of the time. More often than not there are multiple PA/ATIMS contacts before a purchase is finalized, and from time to time a contact does not result in a purchase, however 99% of the time a contact is converted into a purchase and a contact is never related to more than one purchase. Purchasing agents enter potential ATIMS in the database as soon as they acquire their information and immediately begin to cultivate them; after all, ATIMS are their bread and butter.
DLL's leasing agents are responsible for screening NRWBs, and assigning each NRWB a lease classification number that reflects their credit worthiness, net worth and the number of years as a client with DLL. The NRWB lease classification caps the total appraised value that a client may lease. It is possible to reassign a NRWB to a different lease classification, but only the current lease classification is recorded in the database. The hourly lease fee charged for each item is determined by the item's AGS grade, its appraised value, and a provenance surcharge; daily rates and weekly rates are also available for each item. Although the leases are generally of short duration, each NRWB signs a written contract that clearly spells out their obligation and responsibility for the leased pieces of jewelry. A DLL cashier (there are four cashiers) collects a deposit equal to 50% of the contract value. The deposit is collected from the NRWB (or their authorized representative) when the jewelry is picked up and the balance due is paid when the jewelry is returned. Frequently, NRWBs will pay the balance due on multiple leases at the same time.
You may assume that a lease can include more than one jewelry item and because of the extra steps DLL takes to track each jewelry item, lease returns are not tracked separately in DLL's database.
You may assume leasing is not DL's only source of cash and non-purchase related cash disbursements are not recorded in the same table as cash disbursements for purchases.
You may assume that all agents, all resources, and all typification entities are put into the database (except otherwise noted in the narrative) before any relationships with other entities are instantiated (i.e., this is a well-designed
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