Finished good

Finished good

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 is called a "finished good".

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.


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