In-process inventory is work that has begun production in a manufacturing company but that has not yet been completed. It is an important concept for accounting departments because they have to ...

Work-in-process inventory refers to the partially completed materials within a production line. According to the team at Accounting Tools, this term considers the cost of raw materials, direct labor ...

Andriy Blokhin has 5+ years of professional experience in public accounting, personal investing, and as a senior auditor with Ernst & Young. Thomas J. Brock is a CFA and CPA with more than 20 years of ...

Tacit knowledge is difficult to explain but it is like a reservoir of known but untaught knowledge amassed by doing, sharing and observing. Managed properly, it can give companies a big competitive ...

RFG believes many companies engaging in knowledge management (KM) initiatives are missing a critical step during the KM planning phase the knowledge assessment or audit. Cross-industry studies show ...

In omnichannel and ecommerce companies, inventory management, including tracking and reserving inventory for orders, is crucial for maximizing sales and improving customer satisfaction. If you can’t ...