In the precious metals handling industry many vault owners are spending precious labor hours manually entering product types each day. One way that vault owners and operators are avoiding this issue is by implementing global product cataloging systems. A global product catalog is a single “master” precious metals inventory listing that is applied to all owners throughout a facility or group of facilities. This global catalog lists all possible products that can be stored based on what inventory items have been minted worldwide and is updated as new products are minted. The global product catalog is used to reduce manual data entry needs by storing and maintaining all product information in one location. This list of products is then associated to each customer storing product within the vault/warehouse.

The global product catalog works by automatically uploading all product types via a master file of all newly minted products. This one catalog is then associated to all customers through the inventory management system. When a product is received that has never been stored by customer x, the catalog searches for the product within the global catalog and receives the inventory against that record.

Businesses handling a high volume of standardized precious metals inventory such as coins and bullion benefit most from this type of feature. The benefits these users most frequently see are simplified system maintenance, increased receiving efficiency and reduced manual data entry. All of these significantly reduce labor hours and increase workforce efficiency. If you would like to learn more about global product cataloging for vaults contact Datex today. Datex is an industry leader providing flexible, reliable supply chain solutions to make your business more profitable.

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