Hi Sandeep,
I would suggest you to explore and configure all the customizing appropriately. You can definitely set the above setting suggested by Sudheer.
Also, it would be full-proof if you do this setting in Quality/ Sandbox and then run the archiving runs there. With that, you can archive one/ some of the documents in Q/ S and try reading it from archived location/ Content repository.
Later on, you can repeat the same in Production.
Hope this approach helps!!
Regards,
Yogesh Soman.