The term work-in-progress (WIP) is a production and supply-chain management term describing partially finished goods awaiting completion. WIP refers to the raw materials, labor, and overhead costs incurred for products that are at various stages of the production process.
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Days working capital describes how many days it takes for a company to convert its working capital into revenue. Companies that take fewer days to turn working capital into sales revenue are more efficient than companies that take more days to generate the same amount of revenue.
A working capital loan is one taken to finance the everyday operations of a company. Organizations in industries that have high seasonality or cyclical sales cycles often rely on this type of loan to help tide them over during periods of reduced business activity.