Logistics, a broad term comprises transportation, warehousing, and reverse logistics. In each of the cases, records generated daily are humongous. Physical records related to transportation are waybills, bill of lading, E-way bills, invoices, customs documents, and packing lists. Physical records related to warehousing are picking lists, inspection lists, GRN receipts, and contracts with suppliers. Physical records in reverse logistics are claim forms, and records of the returns that contain customer name, product, quantities, and the reasons for return.

All the physical records that are said above are critical to an organization. An organization that dumps its records would face difficulty in retrieving it. Suppose assume a case that a shipment of rings arrived at a plant a month back and had 20 boxes. Out of the 20 boxes, 1 box was damaged and it was found later. Now, the warehouse team reaches the supplier for replacement and the supplier asks for waybill details in which the shipment was sent. If the warehouse couldn’t find the waybill details, it would be nearly impossible to claim from the supplier. On the contrary, if the organizations had duly filed their records, they could have got the waybill details in a fraction of a second. Organizations, typically have a records room that is solely allocated for storing age-old records.

Another trend that has recently emerged is the records management solution companies. These companies specialize in storing records and organizations can retrieve those records anytime. Since they are specialized in records management, they use the latest technologies to store the records securely. Another benefit is the cost, storing in a records management company would be much cheaper than having your own records rooms because of economies of scale. It has been calculated that the costs of maintaining records in an own records rooms are six to seven times more than the cost of storing in records management companies. Kayman vaults is a records management company that provides services such as storing records, critical document vaulting, scanning & digitizing services, data tapes, and media vaulting. It has state of an art warehouse to store all kinds of records. If you want to know more about storing records at kayman vaults, feel free to contact us at info@kaymanvaults.co