Inventory is product at all stages of the process just standing around. It comprises all material stored in warehouses, on the shopfloor and in other locations. Inventory is waste as it requires process time, space and labor for stocktaking, storing and managing it.
- All raw material stored in the warehouse
- All stored finished products
- All Work in Process (WIP)
Learn more about this topic in our Value & Waste Online Course (Demo currently not available for Internet Explorer).