Inventory Waste

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  Inventory waste is any unnecessary storage of materials, products or information.

The above video is from the 8 Major Forms of Waste Course.

Examples:

1. Excessive raw materials.
2. Unsold finished goods.
3. Excessive amounts of MRO items.
4. Information and data that is being stored but not used.
5. Excess supplies, including office supplies.
6. Emails sitting in inbox.​​

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Causes of Excess Inventory:

1. Working to a push system or a forecast.
2. Unbalanced workloads.
3. Buying to many of items.
4. Batching
5. Inefficient or poor planning and scheduling.

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Countermeasures and Solutions

1. Build only to demand where possible.
2. Stabilize processes and use six sigma techniques to minimize variability.
3. Remove waste from processes so that inventory (raw,wip,fg,mro) can be reduced.
4. The Just-in-Time System.

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Challenge:

• What types of Inventory do you notice at home, work or other places?  How do you think that inventory affects the organization?  Share your thoughts in the comments section below and receive a coupon to one of Lean Strategies International LLC's courses.

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