#6 All forms of inventory represent income that has not yet been realized. Stock that is not being actively processed is considered waste.
✦ Excessive production of promotional materials or printed forms.
✦ Produce or food that is not used by the expiration date.
✦ Kitchen gadgets that are accumulated and not in use.
✦ Unused or rarely used equipment.
✦ Data entry piling up.
One cause of inventory waste is overproduction, but it can also result from a lack of balance in the workflow.
Think about it:
✦What is your customer’s demand?
✦What is your company's demand?
✦How can your workflow meet demands and prevent waste?
Watch this Lean Smarts video on inventory waste to see an example of it.
You can watch from 1:57 to 6:00.
Photo by pch.vector on Freepik
Reference: Lean QuickStart Guide: The Simplified Beginner's Guide To Lean (QuickStart Guides™ - Business) by Benjamin Sweeney. ClydeBank Media LLC, 2015.