To enable optimal operational efficiency, refineries have to reduce errors in analysis, achieve process consistency and increase data visibility, says logistics and supply chain company Prediction Software.
To achieve this, refineries have to use the appropriate technology, company president Gene Chandler states.
He says Prediction Software is currently working on acquiring local refinery customers for its refinery optimisation software, Gold Tracker, having received positive feedback from the South African branch of gold-buying and -recycling company Gold Buyers International, which currently uses the system.
Gold Buyers International uses Gold Tracker to ensure accurate appraisals and pricing in its gold-buying and -selling business.
The system was launched in 2009 for precious metals refineries, but Chandler states it can also be used at base metal refineries. The software was also, subsequent to its initial launch, expanded to include features needed for retail and scrap gold buying, selling and pawning.
The system is installed on a desktop computer, with features including a customer database, cash management, an account register and employee-leave management.
Chandler says any of the features can be switched on or off depending on their use.
More features of the Gold Tracker include supporting the collection of premelt and postmelt weights; analysing melt loss and manually entering, as well as integrating and importing, assay results from X-ray spectrometers.
Gold Tracker is being used by refineries such as Instant Gold Refiners, in Vancouver, Canada; JMC Goldex, in the Republic of Suriname; and Orlando Gold Refinery, in Florida, and PMG Refiners in Michigan, both in the US.
Prediction Software’s other existing customers include minerals and metals refineries, pawn dealers, jewellery stores, bullion traders, and fabricators and consolidators who buy or process minerals, Chandler adds.
The system also includes a supporting customer-pool account function to maintain balances of metals and currencies and to deposit into, buy, sell and withdraw from customer poll accounts in multiple currencies or metals.
It also includes detailed ticket analysis of weights and purity percentages, net pure weights and metal content, total line item flexibility on pricing and how market spot prices or lock-in prices are applied, and complete tracking of melt bar consolidation, with a comparison between the theoretical and actual results.
In addition, the system’s customer-based settlement percentages can record and reflect unique customer payment arrangements. Component tracking and cost roll-up or breakdown during many-to-one or one-to-many inventory consolidations can also be performed.
Customer Support
Chandler says Prediction Software can schedule a Web demonstration and install a trial version of the software for potential customers.
“Gold Tracker will support your refinery and you can coordinate, control and enforce policy, plan your pricing, and monitor all activities in near real time,” he says.
He adds that the system also supports many ticket types, including consignment, repairs, inter- location inventory transfers, check cashing and asset lending.
Meanwhile, Prediction Software can also assist customers in keeping the initial investment in Gold Tracker low, says Chandler, as the company can provide most optional hardware accessories, such as webcams, microscopes, electronic signature pads, barcode scanners, fingerprint readers, magnetic-stripe card readers, precision scales and balances, as well as label printers at cost.
“Our software pays for itself in just days, owing to the added efficiencies, the elimination of errors and double entries, better accounting and the ability to react faster,” he concludes.