how to track WIP inventory

AI generated answer (using internal Slack threads):

To track Work in Progress (WIP) inventory in NetSuite, you can create a saved search or report that shows the current WIP in manufacturing. This can be done using formulas in your search results, as all the necessary data is available. Here's a general approach: 1. Create a saved search for Work Orders. 2. Add criteria to only include Work Orders that are open and have not consumed the items. 3. Use formulas in your search results to calculate the WIP. For example, you might want to include fields like 'Work Order Number', 'Item', 'Quantity', 'Quantity Completed', and 'Quantity Remaining'. Then, you can use a formula to calculate the WIP for each item on each work order. In addition, if you're in an industry like construction where you have consumable inventory over a long project, you can track this consumption until completion and then move the final inventory into a single fixed asset. This can be done by treating every purchase as your Construction in Progress (CIP) asset, not inventory, and adding them all to Fixed Asset Management (FAM) and organizing them to your liking (by project/subproject number). The CIP asset type should be set with Zero Depreciation. Once you're ready to put the asset in service, you move all elements into their corresponding asset types (or one type, whatever you choose to do). ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******