What are the various wastes of manufacturing and describe any two of them with suitable examples?

In advanced inventory planning, understanding and mitigating manufacturing wastes are critical for optimizing efficiency and resource utilization. There are seven recognized types of waste in manufacturing, often referred to as the 7 Wastes or TIMWOOD:

1. Transport: Unnecessary movement of materials or products between processes or locations, leading to increased time and cost. For instance, excessive handling of components between workstations in a factory can lead to delays and potential damage.

2. Inventory: Excess inventory beyond what is required ____ ______ _________ ____ ___ __________.
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