Inventory can be classified into three major categories: raw materials, work in process and finished goods. Work in process (WIP) inventory consists of goods that have begun but not yet completed ...

For a manufacturing company, work in progress is created when items are part-way through the production process. WIP usually consists of three elements -- raw materials, direct labor and applied ...

More than a third of the businesses using RFID are doing so to improve the cost, safety and reliability of managing work-in-process (WIP), according to a study released by the Aberdeen Group, a market ...

When you’re making items composed of many parts, such as airplanes, automobiles, high-tech and consumer electronic devices, machinery, or medical equipment, it’s essential—but difficult—to keep track ...

Before dealer principals and store managers brush aside the issue by stating something like, “I’m a car guy, not an accountant,” NADA Academy instructor Eric Dreisbach shared eight potential pitfalls ...

A buffer can be simply defined as something that serves as a protective barrier. Let’s see how this might apply in the context of technology and computing as well as manufacturing. In the context of ...

For manufacturers, the efficient handling and management of work- in-process (WIP) goods is critical for maintaining competitiveness and meeting customer demands. While enterprise resource planning ...