Real-Time Work-in-Progress Figures — Construction’s Secret Weapon
ProcurementExpress.com
JANUARY 2, 2019
In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Meaning, they’ve likely paid for most of the materials, labor, and overhead a while back. This might mean they haven’t sent an invoice or, it could mean that change orders have not been approved.
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