Work In Progress

Work-in-progress (WIP) refers to any goods that are partially finished during the production process. This includes items that are being manufactured but are not yet complete, such as materials being assembled or processed. WIP is an important concept in manufacturing and project management, as it helps businesses track the flow of production and manage resources effectively. By understanding WIP, companies can optimize their operations, reduce costs, and improve efficiency, ensuring that they can meet demand without overproducing or running into delays.