Posted in Operations and Supply Chain Terms, Total Reads: 196
Definition: Field Finished Goods
Field finished goods are similar to the finished inventory stock. The only minor difference is that field finished goods are not stored in the warehouse or within the four walls of the manufacturing facility. Such goods are stored at an external location. In other words, finished goods stored at a place outside the place of manufacturing or the warehouse are field finished goods.
Finished goods refers to those goods that have been completed in all aspects i.e. no further manufacturing process is needed on such goods. Such goods are completed in form and are ready to be sold to the customers. Such goods that have been manufactured completely and are ready for sale are called as finished goods. Such goods are also referred to as inventory of finished goods. Such inventory is usually stored in the warehouse, or other similar space of the manufacturing plant unless sent to the distributor for sale to the customers.
Therefore, inventory which is stored at external locations and not within the vicinity of the manufacturing plant or the warehouse or the distribution centre are known as field finished goods.