Glossary
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W
Work in Progress WIP.
The total amount of work in processing, between production stages or subject to a waiting time.
Work in Progress Stock.
The stock of products and/or materials and components which are still in the production department and are not, or are no longer, included in the stock in the store.
Working Stock.
The stock of materials, components and sub-assemblies (excluding safety stock) held in advance of demand so that ordering can done on a lot size rather than on an as needed basis. In other words, the normal stocks formed by products arriving in large regular orders to meet smaller, more frequent customer demand. Also known as cycle stock or lot size stock.
Acronyms | 1-10 | A | B | C | D | E | F | G | H | I | J
K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
