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Topic: waste reduction

The 5 P’s of Inventory Shrinkage

Inventory shrinkage is a term used to describe the loss of inventory. It is the difference between the physical count of inventory stock and the recorded quantity. Categorised as inventory waste, the four major types of inventory shrinkage are shop-lifting, theft by employees, clerical errors and supplier fraud. Placement Shoplifting is the leading ... Read More

  October 10, 2018     

5 Myths of Inventory Control

Inventory can account for a substantial chunk of your business’ assets. Therefore, optimal inventory management is crucial to a business’ ongoing success. It is important for entrepreneurs to understand inventory control and inventory myths and misconceptions. 1. Start the business first Inventory control is important for the success of any bus ... Read More

  October 3, 2018     

How Can Inventory Management Lessen the Impact of Food Industry Waste?

The food industry is known to be one of the largest producers of waste which makes it a good time to discuss how waste is generated and ways to keep it at a minimum using inventory management can facilitate waste control. The scale of food waste 1.9 million tonnes of commercial food waste is discarded […] ... Read More

  September 24, 2018     

Inventory Waste: 5 Areas for Improvement

Toyota’s model of production caused ripples throughout the manufacturing world when their introduced lean manufacturing and total quality management into their business. They identified two components of lean manufacturing that must be understood, these being Muda (waste) and Kaizen (continuous improvement). The lean manufacturing model also ... Read More

  September 4, 2018     

Reduce Inventory Waste with a Lean Operation

As the world shifts towards a sustainably viable means of producing and distributing, companies dealing with inventory are increasingly pressured to limit their inventory waste. Creating a more efficient manufacturing and distribution process doesn’t just benefit the environment; keeping lost profit to a minimum and improving business image are b ... Read More

  August 24, 2018     

3 Essential Strategies to Prevent Inventory Waste

Every piece of inventory your business holds has a physical cost associated with it as well as less obvious costs. These costs also include transportation and movement of this inventory, the storing space required, the use of containers and packaging, the administration of tracking inventory, the cost of damages, losses and writing inventory off th ... Read More

  August 21, 2018     

5 Major Types of Inventory Waste Your Business Needs to Know to Cut Costs

Inventory waste is considered one of the seven major wastes in lean manufacturing and does not just encompass damaged or obsolete inventory stock. Types of inventory waste can be defined as any production activity that uses resources but does not add any value for the customer. As a consequence, these wastes add to the cost […] ... Read More

  August 21, 2018     

5 Types of Inventory Waste That Are Costing You Money

The types of inventory waste found in a business are not solely limited to damaged or outdated stock. Waste can be encountered in any activity that uses resources without adding any value for the end user. Instead, it increases cost, either to the manufacturer or to the consumer. Waste is a key area where businesses […] ... Read More

  August 11, 2018     

Better Coffee Roasting with a Lean Approach

Lean manufacturing began to gain ground around the 1990s with Henry Ford and it has caught on quickly ever since. A lean production approach focuses on systematically reducing any non-value adding or wasteful activities, to increase efficiency, productivity and employee morale. Implementing lean manufacturing processes can be an excellent way to im ... Read More

  November 7, 2017     

Inventory Management and the Bottom Line

Lean inventory involves minimizing excess stock; using more efficient processes to manage inventory and production are crucial to reduce waste. ... Read More

  January 13, 2017