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 ...

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 ...

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 ...

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 ...

LOUISVILLE, Colo.--(BUSINESS WIRE)--The Design Automation Conference (DAC), the premier event on automation and design of electronic systems, features a unique Work-In-Progress (‘WIP’) forum that ...