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In Process Inventory
In Process Inventory
It refers to the status where the item is actually taken out of a warehouse and is being stored in some process to manufacture its upper-level item, and the quantity of such items are also called In Process Inventory. Subcontractors are usually also regarded as a subcontract process, and the supplied items provided for subcontractors are thought as In Subcontract Process Inventory.
Related term: Inventory Holdings
It refers to the status where the item is actually taken out of a warehouse and is being stored in some process to manufacture its upper-level item, and the quantity of such items are also called In Process Inventory. Subcontractors are usually also regarded as a subcontract process, and the supplied items provided for subcontractors are thought as In Subcontract Process Inventory.
In Process Inventory = Holding Inventory - Current Inventory
Related term: Inventory Holdings
Reference：JIT Business Research Mr. Hirano Hiroyuki
General Inventory Goods | Inventory Control | In Process Item