This week we’d like to dive into some industry data from the annual “Industry Outlook Report” that is published every year by Logistics Management and Modern Materials Handling. It’s a comprehensive survey of decision makers with purchasing authority for materiel handling solutions, and it’s often a useful way to validate some of the trends and challenges we see in our own client base as well as learn about others that may have been out of our purview.
Last week we continued our drill-down into the common challenges facing manufacturers and distribution businesses by focusing on Inventory (See “Four Inventory Management Challenges for 2020”). This week we’re going to dig down another level within the Inventory space by looking at it through the lens of the Six Sigma’s “Eight Forms of Waste”. Since we like to keep things to a short read of 5-7 minutes, we’ll focus on three of them today specifically in how they relate to the challenges of Inventory management.