You may discover some of your raw materials have become so degraded that you can't use them. As part of your ending inventory calculation, subtract the value of unusable material from raw ...

Work-in-process inventory is a vital part of inventory management. It indicates the point in which raw materials are in the process of becoming a salable product but are not yet complete.

Material requirements planning (MRP) is a software-based integrated inventory and supply management system that companies use to estimate quantities of raw materials and schedule production.