What is a work-in-progress goods inventory?

Asked 2 years ago

Hi, what type of products does a WIP inventory stock? Would it be the selling of raw materials? I don't understand how one could have unfinished products that are still being manufactured, in your store.

Erich Guy

Tuesday, April 19, 2022

Well, according to research, Work-in-progress (WIP) is a term used in supply-chain management to describe things that are only partially produced. In-process inventory is another term for them. This includes everything from administrative expenditures to raw ingredients that join together to make the finished product at a specific point in the manufacturing process.

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