Having an item out of stock is an example of what type of waste?

Having an item out of stock is considered wasted opportunity because it results in a potential loss of sales. When a product is not available, customers are unable to purchase it, which can lead to dissatisfaction and drive them to seek alternatives, possibly leading them to choose a competitor's product. This waste represents a missed chance to serve customers and generate revenue for the business. It highlights the importance of effective inventory management to ensure that products are available when customers want them, maximizing sales potential and customer satisfaction.