Inventory Control in the Oil Field with Microsoft Dynamics GP

In 1848 the discovery of gold in California inspired thousands of people throughout the United States to pull up roots and journey west.  Soon large scale gold mining companies were in operation. In a similar fashion, the black gold rush is driving people to western North Dakota in record numbers. According to the US Census Bureau, the population of North Dakota is growing three times faster than the national average.

During the California gold rush, handwritten ledgers were the best (and only) technology when it came to tracking tools and scheduled work. Today, things are much different in the oil field. Thanks to Microsoft Dynamics GP, oil field managers can easily access accounting reports and invoices. They can keep track of inventory, purchase order processing and receiving, labor, project accounting and more.

Managers can also implement GPS tracking technology to track assets, vehicles, inventories and equipment in real-time. Access to Dynamics GP is even available on mobile devices and tablets, so information is available anytime, anywhere.

Inventory control is vital for any business, but it’s especially vital in a booming industry with constant fluctuations in numbers, orders and inventory. The Inventory Control feature in GP allows the user to:

  • Enter and post adjustment transactions and variance transactions individually or in batches
  • Enter and post transfer transactions individually or in batches
  • Complete stock counts, which include both cycle counts and physical inventory counts
  • Use ABC analysis to prioritize items
  • Print the Historical Stock Status Report
  • Trace the life cycle of a serial number or lot number
  • Track a single inventory item across multiple bins within the warehouse

Inventory Control includes a checklist for year-end closing and you also can create your own customized checklists.

Technology certainly has come a long way since the “forty-niners” and Microsoft Dynamics GP is leading the way.

by Sabrina Zimara, DFC Consultants

DFC Consultants is a Microsoft Gold Certified Partner specializing in Microsoft Dynamics GP and CRM. Since 1989, DFC has been providing accounting software solutions, training and support nationwide. Our passion is to assist clients in meeting their goals with professional services and powerful business solutions. DFC has offices in Fargo, Bismarck and Dickinson, North Dakota.

About Sabrina Zimara, DFC Consultants, Ltd

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