Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

Value stream map vs. process map, which is better for you? As with many tools and methods in Six Sigma, there isn’t a ...

In-process inventory is work that has begun production in a manufacturing company but that has not yet been completed. It is an important concept for accounting departments because they have to ...

As we have previously covered on this blog, the primary purpose of Lean Six Sigma (LSS) methodology is to eliminate waste and reduce variation in manufacturing, service and design processes, thus ...

Inventory management is the process of tracking where your products are at all times and when to order more. These techniques can improve your inventory management process, independent of software.

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Thomas J. Brock is a CFA and CPA with more than 20 years of ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...