2. Inventory
Any raw material, work in progress (WIP) or finished goods which are not having value added to them
Caused by:
• Production schedule not level
• Inaccurate forecasting
• Excessive downtime/set up
• Push instead of pull
• Large batching
• Unreliable suppliers
Why one of the 7 Wastes ?:
• Adds cost
• Extra storage space required
• Extra resource to manage
• Hides shortages & defects
• Can become damaged
• Shelf life expires