Sorry! This Contributor No Longer Works For Investopedia

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.

Investopedia is one of the best-known sources of financial information on the internet. The website serves as a resource for investors, consumers, financial professionals, and students who seek guidance or information on various topics.

Grunt work is an expression that describes menial work; when used in finance, it refers to work typically performed by the lowest-ranking employees.

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.

You've probably encountered a definition like this: “blockchain is a distributed, decentralized, public ledger." But blockchain is easier to understand than it sounds.