Economy GDP
8 types of waste is a one of lean six sigma frameworks and helps analysis waste within an organization. Very helpful lean tool as organizations usually focus on only a few types of waste while ignoring others.
The seven wastes are Transportation, Inventory, Motion, Waiting, Overproduction, Overprocessing and Defects. The eight waste is human capital. Lean six sigma waste types are shown in the below diagram.
When a facility produces too much of a product, it is a form of waste. Even if the product does eventually sell, it causes certain types of waste. For example, if you have too much of a product, it needs View more Seven Forms of Waste