Navy inventory system collects servicewide award
- By Dawn S. Onley
- Jun 09, 2003
A Navy automated inventory accounting system has received the assistant secretary of the Navy's Financial Management and Comptroller Team Award for replacing stovepiped systems and potentially saving the service millions of dollars.
The Material Financial Control System Retail Ashore Implementation Team took home the award on May 28 at the American Society of Military Comptrollers Professional Development Institute in New Orleans.
The MFCS system, now being installed at several sites, replaces 1960s-era legacy systems that Navy officials said are expensive to maintain and operate. Over the next four years, the accounting system is expected to generate more than $30 million in savings, officials added.
The system uses two new modules to perform allotment accrual accounting and expenditure processing for more than $5 billion in annual funds processed by the Naval Inventory Control Point for equipment supplies and services. The system is an Internet-ready, scalable and secure client-server architecture, Navy officials said.
'The MFCS project is a remarkable example of what can be accomplished with a cross-functional team working toward a common goal,' said Rear Adm. Justin D. McCarthy, commander, Navy Supply Systems Command.
The system was jointly developed by: Assistant Secretary of the Navy's Financial Management and ComptrollerDefense Enterprise Computing Center in Mechanicsburg, Pa.Defense Finance Accounting Service in ClevelandFleet and Industrial Supply CentersNaval Supply Information Systems ActivityNaval Supply Systems Command's Naval Inventory Control Point.