Scribd Logo
Upload

Welcome to Scribd!

  • GLossary Manufacturing Domain

    Uploaded by

    shobabandara
    19 views1 page
    SKU refers to a specific item and unit of measure used to maintain inventory, such as quarts and gallons of thirty-weight motor oil being tracked as separate SKUs. Work-in-process (WIP) inventory describes items currently being processed or awaiting another operation, and represents the value of materials, labor, and overhead issued to manufacturing but not yet turned into a stockable item, which may also include components picked or finished goods awaiting inspection.

    Original Description:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    SKU refers to a specific item and unit of measure used to maintain inventory, such as quarts and gallons of thirty-weight motor oil being tracked as separate SKUs. Work-in-process (WIP) inventory describes items currently being processed or awaiting another operation, and represents the value of materials, labor, and overhead issued to manufacturing but not yet turned into a stockable item, which may also include components picked or finished goods awaiting inspection.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    19 views1 page

    GLossary Manufacturing Domain

    Uploaded by

    shobabandara
    SKU refers to a specific item and unit of measure used to maintain inventory, such as quarts and gallons of thirty-weight motor oil being tracked as separate SKUs. Work-in-process (WIP) inventory describes items currently being processed or awaiting another operation, and represents the value of materials, labor, and overhead issued to manufacturing but not yet turned into a stockable item, which may also include components picked or finished goods awaiting inspection.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    SKU, Stock keeping unit—referring to a specific item in a specific unit of measure.

      For
    xample, if you distributed thirty-weight motor oil in both quarts and gallons you would maintain
    the inventory as two SKUs even though they are both thirty-weight motor oil.  Also refers to the
    identification# assigned to each SKU.

    Work-in-process (WIP)—generally describes inventory that is currently being processed in an


    operation, or inventory that has been processed through one operation and are awaiting another
    operation. WIP is actually an inventory account that represents the value of materials, labor, and
    overhead that has been issued to manufacturing but has not yet produced a stockable item.
    Depending on how your accounting and inventory systems are set up, it may also include
    components picked for production usage or finished products awaiting final inspection.

    You might also like