Inventory can be classified into three major categories: raw materials, work in process and finished goods. Work in process (WIP) inventory consists of goods that have begun but not yet completed ...

Work in process refers to materials that have begun their transformations into finished products but are not yet complete. When running a business, you should keep track of your work in process and ...

Before dealer principals and store managers brush aside the issue by stating something like, “I’m a car guy, not an accountant,” NADA Academy instructor Eric Dreisbach shared eight potential pitfalls ...

This article is based on my observations the last few years when I’ve been invited into factories looking for help to start (or too often restart) a continuous improvement (CI) strategy. The subject ...

How do you eat a chocolate elephant? Well, the answer is easy and well-known – one bite at a time. The same is true when nibbling away at reducing lead time. A value stream map identifies ...

OATSystems, based in Waltham, Mass., this week unveiled an RFID software product designed to help manufacturers keep close tabs on their work-in-process (WIP) and assets. The Asset Tracking and ...