The logistics, warehousing, and transportation industries are complex. Consequently, any business that sells, stores, or ships products needs to learn to work smarter by using all the available resources to improve the efficiency of the supply chain.
As we continue our series of “challenges” that we started four weeks ago and will continue leading up to MODEX, we’re going to keep drilling down and spend a second week on the Eight Forms of Waste as they relate to Inventory. Last week we delved into the three areas of “Talent (Underutilized Resources)”, “Waiting Time” and “Extra Motion” (See “Eight Forms of Waste – Inventory, Part I”). This week we’ll look at four more forms of waste and how they impact your Inventory processes:
- Extra Processing
- Over Production