Manufacturing
WIP
Work in Progress · work in process
TL;DR
Inventory currently between raw and finished — partially-processed material that has consumed cost but not yet generated revenue.
Work in Progress (WIP) is the inventory value tied up in batches/units that have been started but not yet completed. WIP inflates working capital and hides yield problems; lean operations target WIP minimisation via SMED, smaller batches, and flow.
V5 surfaces real-time WIP per work centre / line, with stage-of-completion and last-touched timestamp — useful for both finance (working-capital monitoring) and operations (bottleneck identification).
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