Inventory Series
Discusses the complexity of managing inventory: Cut inventory too low and customers begin to experience stock outs; if too much inventory is kept on hand, however, then valuable signals from the customer are lost in noise. Explains that while inventory is a form of Waste, if used properly it functions as an important ally in increasing throughput, stabilizing production, and reducing customer stock outs.
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Introduces Apple the dog, who teaches a very important lesson in inventory. Explains how inventory—which is a form of
Waste—is an important ally in the fight against stock outs, when used properly. Breaks down the different types of inventory: Finished
Goods, Buffer Stock, Raw Materials, Safety Stock, Shipping Stock, and Work in Process. >> |
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Explains that even though your organization may be in a rush to decrease inventory,
it’s important to do your homework and decrease slowly. Provides a few tips on addressing inventory,
as well as a few illustrations on inventory. >> |
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