In any organizations supply-chain management, Work In Progress (WIP) refers to products/goods that are partially completed. These products may also be referred as in-process of inventory. This includes everything from the overhead costs to the raw materials that may come in the form of finished product at a given time in the production process. Work In Progress is usually consists of the complete quantity of raw materials required for a product, Hence the same is included at the beginning of production planning & control (PPC Dept).A healthy/desired revenue flow may be traced back not just to a particular aspect of business management. Effective & efficient management of work in progress is the important factor in ensuring that your firm has got Return On Investment (ROI) for its services extended. We will focus on four major operational actions which your firm can take to a better management in work in progress:
Following are the Software & Hardware needs for WORK IN PROGRESS MANAGEMENT.