Work in process, work in progress, (WIP) goods in process, or in-process inventory are a company’s partially finished goods waiting for completion and eventual sale or the value of these items. These items are either just being fabricated or waiting for further processing in a queue or a buffer storage. The term is used in production and supply chain management. Optimal production management aims to minimize work in process.
The Richtopian Vision
Join Our Newsletter
- 3,131,612 all-time readers
- 11 Amazing Examples of Disruptive Technology
- Green for Go: The Rise in Veganism and Changes in Consumer Consciousness
- What Is Social Marketing? And How Does It Work?
- 3 Reasons You Should Buy Gold (And 3 Reasons You Shouldn't)
- 17 Great Examples of Effective Leadership and Strategy
- The New Queen of Jewellery: An Interview With Alyssa Smith
- Grant Cardone Shares His Principles for Life & Success (Exclusive Interview)
- Workplace Culture: How to Encourage Collaboration
- Growing Responsibly: A New Way Forward for Coca-Cola
- Business Etiquette Across Cultures (INFOGRAPHIC)
Women in Leadership
- 10 Popular Tools for Building Websites Online September 9, 2019