Examlex
A decline in total production lasting a minimum of two consecutive quarters defines
Small Batch Sizes
Refers to producing goods in limited quantities, often to meet specific orders or reduce waste.
Lean Accounting System
An accounting approach that aligns with lean thinking, focusing on value creation, waste elimination, and providing transparent financial information.
Work in Process
Inventory that includes items that are in the process of being produced but are not yet complete; this term is often used interchangeably with "In Process" in manufacturing contexts.
Raw Materials Inventory
The stock of raw materials awaiting processing into finished goods.
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