Finished goods

Finished goods are goods that have completed the manufacturing process but have not yet been sold or distributed to the end user.[1]

Manufacturing
The Air New Zealand Boeing 787-9 Dreamliner is an example of a finished good.
Main article: Manufacturing

Manufacturing has three classes of inventory:

  1. Raw material
  2. Work in process
  3. Finished goods

A good purchased as a "raw material" goes into the manufacture of a product. A good only partially completed during the manufacturing process is called "work in process". When the good is completed as to manufacturing but not yet sold or distributed to the end-user, it is called a "finished good".[2]

This is the last stage for the processing of goods. The goods are ready to be consumed or distributed. There is no processing required in term of the goods after this stage by the seller. Though there maybe instance that seller finished goods become buyer’s raw materials

Finished goods is a relative term. In a Supply chain management flow, the finished goods of a supplier can constitute the raw material of a buyer.

gollark: Also it has password hashes somewhere since I never got round to implementing single sign on.
gollark: Configuring it isn't very annoying, the language makes decent sense and all, but I have about 10 subdomains and tons of random subpaths with special routing and reverse proxying logic.
gollark: I have about 300 lines of nginx config by now.
gollark: Oh, hmm, 20 according to my out of date list, oh dear.
gollark: I run about 15 random bits of somewhat important software at this point and don't actually have an up to date list.

References
  1. "Finished Goods Inventory". Retrieved 2016-12-20.
  2. Gill, Suveera (2015). Cost and Management Accounting: Fundamentals and its Applications. Vikas Publishing House. p. 118. ISBN 978-9325990326. Retrieved 2016-12-20.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.