It is also considered a current asset on a company’s balance sheet. Some folks refer to work in process inventory only in the context of production operations that move along relatively quickly. 05 Lean Manufacturing - Introduction - Google Drive Lean Manufacturing Process Improvement Visual Management Though some within supply chain management do make a small distinction between them. Work in process inventory definition . Work in process inventory is materials that are in the process of being produced or manufactured into finished goods to be sold to customers. A valuation method that uses actual direct These items are either just being fabricated or waiting for further processing in a queue or a buffer storage. The value of that partially completed inventory is sometimes also called goods in process on the balance sheet (particularly if the company is manufacturing tangible items. Lleva tu entrenamiento o competición al lÃmie! It is considered a current asset on the com...