Work-in-progress inventory is the amount of money spent on the units of products in various stages of completion but are still sitting on the production floor. Some raw materials, direct labor and ...

As a small-business owner, it is important that you know the value of your current inventory. This is not as simple as knowing how many products you have, as products vary in their degree of ...

How do you calculate your Process Sigma? Determining the lowest acceptable defect rate in your production is a way to ...