⟩ 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?
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.
