Production accounting in the mining industry refers to the planning, tracking and management of all resources, materials and labour involved in mining operations.
From inventory to sales, production accounting should rely on a single, shared information repository with integrated functions capable of storing and sending the relevant data to mining stakeholders.
Ideally, production accounting for mining operations should be done within an ERP system in conjunction with other important aspects of the mining organisation’s operations, which include Enterprise Asset maintenance (EAM) and Laboratory Information Management System (LIMS), and Mining Health and Safety (OHS).
The main reason for ERP integration is to have access to the same inventory file across all disciplines to perform the necessary data analysis, valuations and calculations required in the production process and the efficient running of the mine.
Microsoft Dynamics Ax Production Accounting Module 2 (PAM 2) is the second module within our Production Accounting Module software suite included in the xMMP (exploration, Mining and Metals Processing) platform. PAM 2 is used in processing plants and tracks the location and value of the commodity, essentially improving the visibility and control of the revenue generated from the plants’ output.
With an integrated production accounting system, the same production data is easily accessible through the system interface to be shared and acted upon by the various organisational departments.
For example, plant data gathered from SCADA/PLC operators can be streamed and delivered directly, and successfully combined with LIMS laboratory stream sampling data to give a better indication of the metals resulted in a particular stream.
It is then in the interest of mining enterprises to migrate from separate and stand-alone processes performed by multitude systems and vendors to a trusted, scalable and robust ERP platform that successfully integrates production accounting with all the other disciplines.
The Production Accounting Module (PAM) for Dynamics AX is specifically designed for mining companies, covering mining operations, surface operations, metals and minerals sales and revenue management.
Decision Inc. Immix’s software provides extensive exploration, Mining, and Mineral Process (xMMP) solutions for key mining requirements, including functionality required for nearly all of the Total Life of Mine (LOM) requirements.
Microsoft Dynamics serves as the platform for the xMMP product suite and is a world-class global Enterprise Resource Planning (ERP) solution used by over 20 000 businesses across the globe.
Contact Decision Inc. Immix and speak to one of our experienced Dynamics ERP consultants if you would like to see how an ERP system can help your business, and learn more about PAM 2, its key functionalities, and key benefits