Inventory Manager Question:
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Please explain do You Apply The Above Practices To All Parts Of Your Inventory (finished Goods, Raw Material, Works In Process And Spare Parts) And In All Organizational Entities?

Answer:

One of the most common mistakes made by supply organizations is looking at only a small subset of all inventory-the finished goods sitting in major warehouses-even though raw materials, works in process, spare parts and even goods in retail stores can make up 50 percent of the total. As a result, they miss potential savings. An organizational map of all inventories will help better prioritize ways to reduce inventories. And all the inventory techniques we've discussed apply.

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