Work in process (WIP) inventory represents unfinished goods in production. See how to find and calculate WIP inventory for your business balance sheet here.
A Manufacturing Execution System (MES) is software specifically designed for managing, monitoring, and enhancing manufacturing processes in real time. It is an essential connection between the day-to-day operations on the shop floor with broader planning systems likeEnterprise Resource Planning (ERP) ...
If you are involved in the manufacturing industry, you may have come across the term "routing" as a critical component of efficient production management. But what exactly is routing, and how does it contribute to streamlining manufacturing operations and improving overall productivity? Routing is a...
One crucial step in the manufacture of PCBs is PCBetching. The intended circuit layout must be revealed by eliminating copper out from the PCB’s surface. All copper on the PCB is removed during the etching process, with the exception of the circuitry which is tin-plated for protection. Its...
Manufacturing is the process of transforming raw materials or components into finished products. It’s a crucial sector of the world’s economy, contributing trillions of dollars to world trade annually and employing millions. From its humble origins in the Stone Age, manufacturing has transformed in...
What is MRO? Click here to learn how this key area of manufacturing operations can help lower your costs and streamline inventory processes.
Process Control This involves continuous monitoring and adjusting processes to ensure consistent quality and improved performance. It often includes technical methods like feedback loops and industrial controls, especially in manufacturing. Acceptance Sampling ...
Manufacturing Execution Systems (MES) connects, monitors and documents the process within your manufacturing business to help automate production management.
One of the main principles of the lean manufacturing methodology is to create customer value through the efficient manufacturing of products and services. The first step in the lean production process is to identify what product features are important for customers and which aren’t so you can foc...
5. Work-In-Progress Work-in-progress (WIP) is the cost of unfinished goods in the manufacturing process. This includes all your production costs such as the costs of direct labor, raw materials andmanufacturing overhead. This differs from finished goods, which are products ready to be sold ...