25 Critical Features for Precious Metals Storage -Inventory Management for Bullion: Allocated...
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25 Critical Features Precious Metals Storage: Inventory Management System for Bullion
By Laura Olson
Allocated and Non-Allocated Storage
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The handling and storage of precious metals can be complex. LBMA Good Delivery Rules, inventory security, traceability and billing are matters of primary concern. Businesses that handle and store bullion and precious metals can ensure more secure, accurate and efficient operations by using the latest technology including: • Inventory (and vault/storage) management software
• RFID or barcodes
• Tablets or mobile devices
This presentation provides information on the 25 features needed for best managing the handling and storage of bullion and precious metals. Selecting software that includes this functionality will enable your business to be more profitable and LBMA compliant.
Introduction
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Can track by: • Lot • Serial number Using: • Bar codes • RFID
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Inventory Tracking Methods
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Handles: • Allocated and non-allocated storage • Segregated and non-segregated inventory
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Allocated Storage/Segregated Inventory
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Handles variable weight materials
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Variable Weight
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Can restrict or allow mixing of inventory in specific locations
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Inventory Locations
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Can capture the actual precious metal composition of the inventory
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Metal Composition
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Can track inventory by: • Institution • Broker • Collector • Individual owner • Broker
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Inventory Tracking by Owner
Can track & transfer inventory from one client to another
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Can capture time & date stamped security video as packages are opened
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Time & Date Stamped Security Video
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• System support for multiple units of measure
• Can use Troy ounce as unit of measure
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Units of Measure
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Can tag inventory as having certain certifications or properties for easier tracking
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Tag & Track Inventory
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Supports key billing needs including • Automate accessorial charge
capture for insurance expense and value added services
• Recurring storage & anniversary billing
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Multiple Billing Strategies Support
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Can calculate daily billing record and bill using a variety of billing strategies and for whatever accessorial charges are needed
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Billing
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Includes ability to store files such as: • PDF • Word • Excel & others and attach to any item, inventory, receipt or shipment
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File Storage
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Can restrict inventory to specific locations
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Restricted Inventory Locations
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Can restrict inventory handling on a user basis
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Restricted Inventory Handling
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Can handle multiple simultaneous Inventory transfers
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Inventory Transfers
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Provides hierarchal bin location setup
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Location Set up
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Can handle system holds including: • Testing • Quarantine • Inspections
System can handle multiple simultaneous holds
Workflow can automate holds & hold release
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Inventory Holds
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Can provide web portal access for clients including ability to access real time information including
• Orders • Receipt • Invoices and more
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Real Time Inventory Visibility
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Provides full audit trail records for “chain of custody” documentation
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“Chain of Custody”
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Provides audit reports for inventory documentation by owner to assist in providing documentation for “Chain of Integrity”
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“Chain of Integrity”
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Can enable precious metal price tracking via website integration to London Bullion Market Association (LBMA)
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Precious Metal Price Tracking
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Can provide multiple picking methods Including:
• Single order picking • Multiple batch order picking • Multiple order cluster picking
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Multiple Picking Methods
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Can provide system alerts/notifications:
• Can post within application or send as email internally or to client
• Allow users to establish their own alert specifications to trigger an alert
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Alerts and Notifications
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Provides customizable reports & business processes:
• Workflow based system
• “Drag and drop” customizable reports that can be created to suit every need: tabular, free form, graphical interactive & rich data visualization including charts & maps
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Flexible, Configurable System
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LBMA Compliance
System facilitates compliance with The London Bullion Market Association (LBMA) Good Delivery Rules
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Contact Us
Learn How Datex Can Help Your Business Be More Profitable & LBMA Compliant