Within a manufacturing business, the manufacturing process forms part of the day-to-day short-term operations of the business.
The manufacturing process is the process of taking different bits and pieces and transforming through various operations into products or items that can be sold to the customer. These bits and pieces are often referred to as components.
The manufacturing process takes these components through three key stages:
Raw Materials (RM) – These are the different bits and pieces that are stored, usually in a warehouse, while waiting to be processed.
Work in Progress (WIP) – These are different bits and pieces that are being or have been part processed and is awaiting further processing to allow it to be shipped to the end-user
Finished Goods (FG) – These are the items that are complete and are able to be sent out to customers and consumers
Study.Com has produced a great video explaining the manufacturing process. Click here.