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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. 

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