Across the world, both individuals and financial institutions are investing in precious metals and using third party vaults for secure storage. Precious metal vault and depositories need automated systems to maintain security, Chain of Custody and to ensure proper storage of precious metals and high value goods. Datex FootPrint WMS has the quality assurance, security and automated inventory handling features needed for vaults and depositories and easily accommodates a wide variety of clients and processes.
Bullion and platinum group metals have specific storage processing requirements, readily accommodated by the Datex warehouse management system. Datex FootPrint WMS can provide documentation to meet Chain of Custody and Chain of Integrity requirements, manage photos, certifications and other forms of inventory documentation and provide full traceability by Lot, serial number or other criteria. Using the Datex WMS ensures that your clients will receive an improved level of customer service while your business reaps the benefits of enhanced storage space, operational efficiency and information accuracy.
The Datex WMS includes a flexible billing system to ensure that each client is billing according to the contract terms established by the vault or depository facility. To generate maximum revenue, Datex FootPrint WMS captures and bills for all accessorial charges such as specialized handling, assay tests, insurance and other fees. Each client can have an individual contract based on their needs and terms and billing will automatically be generated accordingly.
Inventory from precious metal storage customers can be housed in a variety of “containers”, such as bins, shelves, packages, vaults, etc. and labeled as license plates with bar codes. The system accommodates hierarchal bin location set up. Datex FootPrint ® WMS has enhanced tracking capability including Lot, serial and Master Air Waybill (MAWB) number tracking and can capture and record variable weights. By interfacing directly with scales, information regarding precious metals inventory can be brought directly into the WMS, reducing errors. The system can be set with a weight tolerance to automatically determine if products are within the expected weight limitations and alert system users. As an added feature, Datex FootPrint WMS calculates up to 8 decimal places.
Inventory can be tagged as having specific certifications or properties for easier tracking. The Datex warehouse management system also utilizes user defined fields (UDFs) to incorporate additional attributes to product inventory such as the actual precious metal composition of the inventory.
The Datex warehouse management system for precious metals storage can accommodate allocated and non-allocated (unallocated) inventory as well as both segregated and unsegregated inventory. The system can hold inventory in customer specific custody accounts, restrict or allow mixing of inventory in specific locations-all based on rules and requirements developed by or for each client. Datex FootPrint ® WMS can be used manually or in combination with radio frequency (RF) or radio frequency identification (RFID) for greater efficiency and tracking capabilities.
Inventory can be transferred between vaults, owners and warehouses. Using a warehouse management system for precious metal storage provides more efficient operations, accurate data and leads to more satisfied precious metal storage clients. Any kind of file, including photos can be attached to any order or shipment and file attachments can be retrieved quickly.
The Datex WMS supports multiple picking methods including single order picking, multiple order cluster or multiple order batch picking. The WMS system can handle receipt of packages from multiple carriers simultaneously and capture the gross shipping weight before the package is opened.
Datex FootPrint WMS Security Features for Precious Metals Storage
Inventory security features of Datex FootPrint ® WMS are vigorous and have been designed to meet strict requirements for highly valuable inventory. The system provides an internal tracking system with full audit trail capability. Audit reports are available to assist in providing documentation for “chain of custody” and “chain of integrity” requirements.
The system can restrict inventory to specific locations, provide signature capture and restrict system access and inventory handling on a per user basis. The Datex WMS can restrict or allow mixing of inventory in specific locations. Owners, projects and materials can also be restricted to specific locations.
For added security, the system can be used with license plates with RFID, with readers strategically placed to read RFID tags. In addition, Datex FootPrint ® WMS can be connected to cameras. As inventory is received, cameras can record the process so that a video feed that is time and date stamped can be provided.
Real Time Precious Metals Inventory Visibility in Datex FootPrint WMS
Precious metal storage vault clients can be provided with real time information access and reports via an optional web Portal. Datex FootPrint WMS can track inventory by institution, broker, collector, individual owner or financial institution. By enabling clients to view orders, receipt, invoices, reports and more via the web portal, customer service labor and time is greatly reduced and customer satisfaction rates increase.
Datex FootPrint WMS Workflow for Precious Metal Storage Vaults
Rather than depend on static hard coding that is costly to alter, Datex FootPrint ® WMS is based upon “workflows”, a set of activities joined to form a business process governed by logic. This makes WMS business processes much easier and less costly to change. This is ideal for multiple clients that utilize differing business processes.
Precious Metals Inventory Tracking and Traceability
Datex FootPrint WMS can track products by Lot and serial number in addition to other factors as well as by institution, broker, collector, individual owner or financial institution. Inventory can be transferred and easily tracked from one client to another. Precious metals inventory attributes such as ISO 9000 and London Bullion Market Association (LBMA) certifications can also be tracked.
Billing for Precious Metals Storage Accounts
Providing precious metals storage vault services and logistics for private and institutional investors requires careful monitoring and a flexible warehouse management system that can bill according to each client’s needs. Third party vault facilities that use Datex FootPrint WMS can capture and bill for all accessorial charges according to each client’s needs and agreements. Inspections and quality checks such as assay tests, weighing and other quality assurance/quality control (QA/QC) services can be provided and billed for each client effortlessly, adding to the revenue stream and ensuring the standards for purity are maintained. In addition, Datex FootPrint WMS helps to accommodate bespoke and special operations.
Precious metals vault storage providers can bill based on value using Troy ounces. The Datex WMS can be integrated to the London Bullion Market Association (LBMA) to provide daily inventory valuation based on precious metal price.
Datex FootPrint WMS supports accessorial charges such as handling, insurance, recurring storage and anniversary billing and facilitates multiple billing strategies for each client.
Datex FootPrint WMS for Precious Metals Storage and High Value Cargo Inventory Management
- Integrates seamlessly to other systems outside the four walls of the warehouse, including the London Bullion Market Association (LBMA), scales and other systems
- EDI enabled
- Houses documents and files in inventory records such as images, certificates (Assay Certificates) and other types of documentation
- Real time inventory visibility available via a web portal 24/7/365
- Can support multiple locations using a single database
- Handles owner and warehouse transfers seamlessly
- Handles multiple simultaneous inventory transfers
- Supports multiple time zones, currencies and languages
- 24/7 support available
- Calculates taxes including VAT, GST, HST and more
Datex FootPrint WMS Reporting on Precious Metals Storage
Users can use standardized reports or create customized reports by “dragging and dropping” fields into the formats of their choice. Datex FootPrint WMS system users can readily customize reports, reducing costly professional fees. Audit reports are available for inventory documentation on a by owner basis to facilitate documentation for “Chain of Integrity”.
Users can view, subscribe to and manage reports and select from a variety of reporting formats including tabular, graphical interactive, free form and rich data visualization including charts and maps.
Discrepancy and audit reports can be created automatically by the WMS system and provided as needed. Additional reports such as SLA compliance, reconciliation and other reports can be set up easily and provided to users automatically via email subscription to ensure smooth, continuous efficient delivery and save time.