What are Finished Goods: Finished goods are products that have gone through the manufacturing process from raw materials to the final good products that have not yet been sold and are ready to distribute to the end-user.
The term “Finished Goods” is commonly used in supply chain management. Where supply chain management manages the flow of goods (from the need of the goods – to the delivery of the goods).
What are Finished Goods
Now as we know that finished goods are those products that are ready for sale or distribution to the end-users. Let’s elaborate on this term with an easy example.
Finished Goods Examples:
It is certain that you must be using an electronic device right now, it can be a mobile, laptop, etc. So, let’s say it is a Samsung mobile and you have bought it from an eCommerce or local electronics store.
Before you buy the Samsung mobile from any platform or store, Samsung must have procured the raw material from the market and then put that raw material into their manufacturing process, and when the final stage of manufacturing is also completed and no other processing process is required on the mobile. Then Samsung is ready to distribute this mobile to the market, the mobile which is ready to be distributed to the end-users is called Finished Goods.
Types of Finished Goods
|electric juicers||dishwashing machines|
|Fruits and vegetables||electric mixers|
|Processed foods such as cereal and sardines||office furniture|
Finished good can be anything which has been processed through any process to get consumed are known as Finished Goods
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