Are you an EPFL student looking for a semester project?
Work with us on data science and visualisation projects, and deploy your project as an app on top of Graph Search.
Concept
Finished goods
Summary
Finished goods are goods that have completed the manufacturing process but have not yet been sold or distributed to the end user.
Manufacturing
Manufacturing has three classes of inventory:
Raw material
Work in process
Finished goods
A good purchased as a "raw material" goes into the manufacture of a product. A good only partially completed during the manufacturing process is called "work in process". When the good is completed as to manufacturing but not yet sold or distributed to the end-user, it is called a "finished good".
This is the last stage for the processing of goods. The goods are ready to be consumed or distributed.
There is no processing required in term of the goods after this stage by the seller. Though there maybe instance that seller finished goods become buyer’s raw materials
Finished goods is a relative term. In a Supply chain management flow, the finished goods of a supplier can constitute the raw material of a buyer.
Official source
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.
Related courses (3)
AR-401(h): Studio MA1 (Weinand)
Le studio Weinand propose une approche du projet par le matériau et la construction. Spécialisé dans l'innovation en construction bois, le laboratoire IBOIS offre un contexte riche d'expériences et de
AR-402(h): Studio MA2 (Weinand)
Le studio Weinand propose une approche du projet par le matériau et la construction. Spécialisé dans l'innovation en construction bois, le laboratoire IBOIS offre un contexte riche d'expériences et de
AR-301(h): Studio BA5 (Weinand)
Le studio Weinand propose une approche du projet par le matériau et la construction. Spécialisé dans l'innovation en construction bois, le laboratoire IBOIS offre un contexte riche d'expériences et de
Related concepts (2)
Manufacturing
Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer to a range of human activity, from handicraft to high-tech, but it is most commonly applied to industrial design, in which raw materials from the primary sector are transformed into finished goods on a large scale.
Supply chain management
In commerce, supply chain management (SCM) deals with a system of procurement (purchasing raw materials/components), operations management (ensuring the production of high-quality products at high speed with good flexibility and low production cost), logistics and marketing channels, so that the raw materials can be converted into a finished product and delivered to the end customer.