WIP Stock

 

 

WIP Stock is the items which are issued from warehouse to production and the material is in the form of raw material or semi finished good only till now.

 

Why it is important to check WIP Stock ?

 

 

For better understanding let suppose

Sale -10 Crore/p.m

Raw Material Stock -6 Crore

If we keep watch on our WIP Stock we can use this raw material at it’s fullest but if we are not keeping that on track the possibility of Rejection increases in which that material lets suppose we have purchased for Rs.100/kg goes in scrap for Rs.10/20/25 per kg

 

If we keep check on WIP Stock and instruct the store also to check WIP Stock before issuing raw material then we can create our many stock advantages.

 

For more clarity you can watch the short video with the link below made by The Co-founder of Finsys Mr. Puneet Kumar Gupta and can get more such informative videos by following and subscribing the channel.