OILFIELD PRODUCT MANUFACTURING INDUSTRY
Business challenges
| Manufacturing is an incredibly competitive business. You are faced constantly with fluctuating demands from vendors, unpredictable and sometimes changing project life cycles, increasing competition, and regulations to comply with in a very challenging industry. This can be a tough market to play in just from an operations perspective – your time is too valuable to be tied up trying to get the information you need out of your systems in order to make confident decisions and effectively manage your business. As a growing oilfield product manufacturing business – you are constantly dealing with challenges associated with ensuring maintenance work on your equipment is proactively managed, tracking what materials are costing, where items are - and determining economic order quantities, plus reducing your billing collection time to help improve cash flow. |
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Your changing needs
Similar to most expanding businesses in the energy services sector, when you started out you probably started managing your operations with some simple business applications. In most cases this includes a basic accounting application, maybe a custom database for tracking vendors and customers – and almost always what can feel like a small library of different spreadsheets. But as a growing oilfield manufacturing business, these systems are bending to accommodate the requirements to run your business today – and in some cases, even breaking. The truth is that as you grow these applications start to limit the operations of your business. Instead of being freed up to concentrate on driving your business forward, in your current environment your time is being consumed piecing together information and operational details from disparate systems.
By having your accounting, sales, and field services data disconnected - the productivity of your business inevitably suffers. Searching for critical business information such as inventory levels in different locations takes up too much of your time and hampers your ability to make timely, sound business decisions.
You need a way to manage your business data that gives you greater control and agility. You need a business management system that is simple, yet comprehensive enough to give you a clear view of all aspects of your business – from general ledger to budgeting, sales, CRM, reporting, field tickets, work orders, job costing, inventory management, among others. By leveraging a single application to manage your entire business from you can streamline your business, optimize cash flow and increase your financial strength to respond quickly when new opportunities arise.
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FieldVu for Oilfield Product Manufacturing: feature highlights
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Preventative Maintenance
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Ensure uptime and increased asset utilization.
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Electronic Billing
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Automatically send bills electronically to customers to reduce collection time and get paid faster.
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Rental Billing
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Ensure flexibility in your billing to fit your client’s needs.
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Project Budgeting
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Follow project profitability and compare budget to actual in real-time, see whether you made or lost money for each job, and see what it costs to build something.
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Work Orders
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Track maintenance on your rental fleet to determine faulty parts or design and know what items are utilized the most or most costly to operate.
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Equipment In/Out
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Track where your assets are at in real-time, and ensure accurate billing.
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Inventory Management
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Stop writing off lost tools or equipment. Know what is on a truck or rig, what has been consumed and where your items are, and what it costs to build something.
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Sales Order
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Ensure margins on sales are maintained.
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Labor
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See how many hours were spent on a job and what incidents (if any) have occurred. Also, see your certifications, and which are coming due.
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Material Tracking
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Track Material Testing Reports (MTR) and heat units for traceability.
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Production Order
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Track costs to produce an item.
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Purchasing
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Manage purchase costs and delivery dates.
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Unit Costing
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Track how much it costs to operate a piece of equipment, and if you’re in the rentals business – maintain your rental fleet.
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Unit Tracking
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Know how many hours were put on a unit and the components within it.
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