Business process outsourcing involves the outsourcing of business functions to external companies. To clarify, many companies outsource tasks to external providers. An example may be hiring a ...

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 ...

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 ...

As we have previously covered on this blog, the primary purpose of Lean Six Sigma (LSS) methodology is to eliminate waste and reduce variation in manufacturing, service and design processes, thus ...

In-process methods are key components of quality control in a chemical manufacturing plant. These methods ensure that a production reaction step conducted by trained operators within the entire ...

In order to have a solid base, first, go through the conceptual framework of optimizing business process. The first step is to understand what process is designed to deliver to the organization. Then ...