Metro follows a “Best Practices” procedures framework whereby new standards of excellence are implemented across its global operation. Improvements in operational disciplines that enhance accuracy, efficiency, timeliness, safety and security in one region are immediately implemented at all of Metro’s global locations.
Metro maintains the highest standards in the industry to ensure customer expectations are not just met, but exceeded. Metro is supported by a proprietary, functionally rich state-of-the-art inventory management system. All inventory transactions are reconciled daily ensuring inventory is properly adjusted accordingly and perpetual inventory is accurately calculated and maintained. Full physical inventory counts are performed at a minimum of each quarter.
In the case of approved LME metals, Metro follows the strict LME Special Contract Rules for each specific metal type. All metal is weighed on frequently calibrated scales, allocated by physical shape and size into warrantable LME lots ensuring all marking, labelling and strapping requirements are compliant. The inbound manifested quantity and weight is always reconciled with the actual quantity and weight. All relevant documents are sent to the inbound customer at the end of each workday.
Protecting company assets, customer inventory and related/operational documentation is of the highest priority. This protection is not only achieved by the proper and adequate securement of each of our buildings, but the active participation of all Metro employees by being cognisant of the presence, behaviour and activity of non-employees in and around its facilities and the proper handling and protection of confidential documentation/information. It is standard procedure for all confidential documentation to be securely filed and never deposited into a waste receptacle, but properly shredded.
All non-Metro guests at offices and warehouses must sign in/out after checking in with the onsite supervisor. They are then accompanied or otherwise monitored by a Metro employee.
theft / fraud protection
Metro administrators keep all individual customer inventory/transactions confidential, discussing only activity specific to owners of stored inventory. Information of one account is never shared with any other party unless instructed otherwise by the Depositor. This even includes the Metro shareholders’ representatives without direct need to know and subject to a strict information barrier policy. Metro only executes the written instructions of the Depositor to ensure their requirements are properly carried out. A paper trail for each Depositor’s transactions is maintained. Metro’s warehouse inventory management system is programmed to prevent any recreation and/or duplication of existing or previously held inventory.
Metro has very comprehensive cargo release procedures. Upon processing shipping instructions for Depositor/financing Bank, Metro administration will assign a Unique Pickup Number. These numbers will be sent to the authorised customer, carrier, truck broker or agent only. In return, Metro requires that prior to the release of outbound shipments, the authorised carrier/broker or customer must inform Metro of the assigned trucker’s name, driver’s license no., unit/ trailer no. and trucking company for each respective pickup number. This information must be in writing and faxed/sent directly to the warehouse by the open of business same day as shipment scheduled. This serves as verification to warehouse personnel that the referenced driver is authorised to pick-up the specific load. If all the requirements are satisfied, cargo will be loaded as appropriate. Trucker will be required to sign the Truck Scheduling Log and sign & date respective Bill of Lading. In the United States, Metro takes a picture of the Trucker and obtains a thumb print, all of which is filed. The Truck Scheduling Logs and B/Ls are verified and thereafter a copy of the B/L is sent to the Depositor/Bank at the end of the day of shipment.
When not in use and at the end of each workday, all forklift keys are removed from their respective forklift and stored in a lockbox remotely located. All warehouse doors (both man and overhead) and gates are closed and locked when not in use.
No single piece/unit of inventory is unaccounted for as each is identified with a lot number. Each piece/unit can be traced back to an owner in Metro’s inventory system.
A Warehouse Receipt is typically issued to a bank that finances metal brought into Metro’s warehouses. There are only two parties to this document, Metro (Warehouseman) and the Bank (in this case acting as Depositor as well). This document is utilised when the goods will be stored in Metro’s warehouse for a period in which there is no activity (ins/outs) that will change the original quantity and description of the goods.
A Holding Certificate, like a Warehouse Receipt, is typically issued to a bank that finances metal brought into Metro’s warehouses. There are three parties on this document, Metro as the Deposit Keeper, a financier (Bank) and the original depositor (Depositor), for which the bank is financing the inventory stored in Metro’s warehouses. Unlike a Warehouse Receipt, a Holding Certificate can be created to support changes in the original quantity and description of goods (Goods). This is preferred when the Depositor desires to ship partial quantities over time. A new Holding Certificate will not have to be created every time there is metal movement of the original quantity.
delivery out process
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