Work-in-Process Inventory Management

Work-in-Process (WIP) Inventory Management involves overseeing items that are currently in production but not yet completed. It ensures that these partly finished products are tracked, organized, and efficiently moved through each stage of manufacturing. Proper management helps minimize delays, reduces excess inventory, and controls costs, leading to smoother production flow and timely delivery. Essentially, it balances having enough work on hand to meet demand without overstocking, optimizing resources, and maintaining quality throughout the manufacturing process.