Material that has entered the production process but is not yet a finished product. Work in progress (WIP) therefore refers to all materials and partly finished products that are at various stages of the production process. WIP excludes inventory of raw materials at the start of the production cycle and finished products inventory at the end of the production cycle. Also referred to as ?work in process.?
Protecting the Quality of Chinese imports
China is known as the largest manufacturer in the world. The Asian superpower produces billions worth of products every year, accounting for almost a third of global production. Western companies ...
