Enterprise glossary and term center
Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.
- Enterprise terms
- Work-in-Progress Inventory
- What is the meaning of work in process inventory?
Work-in-Progress Inventory - What is the meaning of work in process inventory?
Work in process (WIP), work in progress (WIP), goods in process, or in-process inventory are a company's partially finished goods waiting for completion and eventual sale or the value of these items. These items are either just being fabricated or waiting for further processing in a queue or a buffer storage.