Progress chasing financial definition of progress chasing
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progress chasing the task of monitoring the progress of PRODUCTION orders through all stages of production from the time when the order is placed to the time when the work is completed, so as to detect variations of the order or production batch from schedule. This involves identifying jobs which have been started late or which are running behind schedule and the causes of deviations from schedule, for example because materials or components were not ordered in time. It also involves corrective action to overcome bottlenecks and ensure that jobs are completed by the scheduled date to help the business to keep to its delivery promises. See PRODUCTION MANAGEMENT, PRODUCTION CONTROL.