25 Critical Features for Precious Metals Storage -Inventory Management for Bullion: Allocated Storage

Handling and storing bullion and precious metals can be a complicated matter. Compliance with LBMA Good Delivery Rules, inventory traceability, visibility and security are matters of considerable concern when dealing with the proper handling and storage of bullion and precious metals. Having software that ensures that bullion and precious metals can be received, handled, and stored securely produces time and labor savings and provides increased billing accuracy. Using the latest technology enables full lot and serial number traceability of bullion and precious metals and facilitates more accurate, timely transfer of ownership as well. In evaluating software it is important to select flexible software that can handle allocated, non-allocated, segregated and non-segregated storage and can work using RF or RFID. Selecting software that can handle a variety of holds and capture the actual precious metal composition of the inventory provides more accurate inventory processing and better documentation for your business. It is also desirable to use software that facilitates secure processing and inventory storage including time and date stamped security video; restricted inventory handling on a user basis; “Chain of Custody” and “Chain of Integrity” documentation and a system of customizable alerts and notifications. Software that is flexible enough to provide multiple billing strategies and can capture accessorial charges including insurance fees will enable your business to capture and bill more accurately and generate more revenue. Real time information visibility for both system users and clients is essential in mission critical decision making. By providing a web based portal through which clients can access real time information including orders, receipts, invoices and other information provides a higher level of customer service leading to enhanced customer satisfaction levels and more referrals for your business. Using software developed to manage the handling and storage of bullion and precious metals will enable your company to provide efficient, accurate and secure service for your clients and increase profitability.