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What Is Work In Process (WIP) Inventory? Definition ...
Apr 13, 2020 · According to Wikipedia, “Work-in-process is a company’s partially finished goods waiting for completion and eventual sale or the value of these items. The term is used in production and supply chain management. ” As per the Merriam-Webster dictionary, “Work-in-process (WIP) refers to a component of a company’s inventory that is partially completed.