• Tool that battles the urgent—purchased and placed in a way that is ready for an upcoming urgent need.
• Expiration date—unlike cash, the inventory eventually becomes obsolete, spoils, hardened, old; needs a turnover goal or a timely ordered/received by date.
• Cost of storage—limit the space: the area used to store inventory is an expense; don’t eliminate the ability of a team/individual to have inventory; don’t let inventory become an antique warehouse.
• Organized—for quick use, displayed intuitively, and checked out easily.
• Levels—figure out the correct minimum and maximum; understand the times when it used most/least.

Opening Questions

1. How does inventory save us time?
2. We have what we need when we need it and don’t have to do a last minute run for one thing.
3. How much money does our team have tied up in inventory?
4. Make your own guess
5. Should we have more or less inventory?
6. Staff answers will give you a good idea of what the sore spots of inventory are and aspects of the Big 5 will come up in these answers.

Closing Thoughts

• More inventory is not always better, neither is too tight. We need to figure out the balance.
• How can we be better organized with our inventory? For our team’s use? For other’s use?
• What should we add to inventory in order to battle the urgent?