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WIP

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Latest revision as of 00:32, 23 June 2017

Work-in-Process is a Term used to describe inventory types in a manufacturing supply chain that are recorded in various stages of the production process. Materials with Raw Materials status typically change status at the time the Goods Issue is recorded (recorded, not performed). Materials with Work-in-Process status typically change status to FG at the time the GR for a production order is recorded.

Alternative names include: In-Process inventory, Goods-in-Process.

Notes

Work-in-Process inventory is recorded on the Balance Sheet as an asset.

See also: RM, FG

Hierarchy

IDNameLevelx
INVInventory1INV
WIPWork-in-Process2WIP

Process(es)

IDNameLevelx
M102Issue/Stage Materials3M102
M103Produce3M103
M104Inspect3M104
M105Package3M105
M106Dispose3M106
M107Transfer3M107
M203Issue Materials3M203
M204Produce3M204
M207Dispose3M207
M208Transfer3M208
M305Produce3M305
M308Dispose3M308
M403Issue Product3M403
M405Issue Material3M405
M407Inspect3M407
M408Repackage3M408
M409Dispose3M409
M410Transfer3M410

Term(s)

IDNameClearx
ABCABC AnalysisABC
CSFPStatement of Financial PositionCSFP
Work-in-Process Inventory 2 2 {{{keywords}}} {{{description}}}