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Work in process

Work in process or work-in-process, WIP, work in progress, goods in process, or in-process inventory refers to a company's partially finished goods waiting for completion and eventual sale, or the value of these items. The term is used in supply chain management, and WIP is a key input for calculating inventory on a company's balance sheet. In lean…

Companies, Art & Products

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WIP inventory in accounting

Accounting period
1 related topics

Tax treatment

HMRC
1 related topics

Overview

Finished goodsSupply chain managementBalance sheetLean thinkingMuda
5 related topics

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Overview

WIP inventory in accounting

Tax treatment

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Work in process

Nodes11
Edges10
Triples0
Avg. degree1.82
Density0.181818
Components1

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Important terminology

wip inventory goods finished costs demand production value accounting supply chain work process company's term management levels companies well period

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SubjectPredicateObjectConfidenceSrc

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