Ten million dollars. That’s a lot of cash. And for companies in the complex discrete manufacturing industry, the amount of inventory tied up in Work-In-Progress (WIP) can equal or even exceed this amount depending on the number of plants in operation.
As technology, particularly in the manufacturing enterprise software category, develops and matures, the framework for its application and surrounding discussion is shaped by those at the forefront of its use and development. Put simply, these words and terms are alive and subject to change. New technologies and terms are always being introduced. Some of these new terms quickly fade. Others evolve over time to take on expanded meanings.