The value of goods in production including raw materials.
The value of partly finished (ie. partly manufactured) goods.
Products, services or contracts partially completed at a specified time. Can be included in stock/inventory in the balance sheet and usually valued at cost of direct inputs.
The part of stocks (inventory) that has had some work done on it, but which has not yet been made into goods ready for sale.... more on Work in progress
Parts and subassemblies in the process of becoming completed finished goods.