Raw Material Management
Raw material is the term for products that manufacturers use to create finished goods. These products may be manufactured on an assembly line or in a laboratory, but whatever the process, the end result is the same: a product that can be sold to consumers. Manufacturers typically store raw materials on a company’s balance sheet as inventory until they need to be used for production, at which point the raw material is converted into work-in-progress or a finished good.A common example of a raw ma...
2023-09-19