WIP Inventory Tracking

AI generated answer (using internal Slack threads):

Based on the conversations, it seems that there are a few ways to manage WIP (Work in Progress) inventory tracking in NetSuite. One approach is to use the "Make Inventory Available" checkbox on the location record. This allows you to have inventory that is owned by your company and accounted for, but not available for sales orders. This can be useful if you have inventory that is in-transit for long periods of time or is not yet considered finished goods. Another approach is to create separate items for your WIP and finished goods. For example, you could create a Widget A and a Widget A-WIP, and then consume the Widget A-WIP to create the assembly item that is the finished product. This could get complicated if the manufacturing process is dynamic and not predictable. In the construction industry, one method is to treat every purchase as a CIP (construction in progress) asset, not inventory. These are added to FAM (Fixed Asset Management) and organized as per your preference. The CIP asset type should be set with Zero Depreciation. Once the asset is ready to be put in service, all elements are moved into their corresponding asset types. Remember, the best approach depends on your specific business needs and processes. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******