inventory = muda

I have always thought that it is great to plan ahead and have things stocked just in case. For instance, I always have an extra shampoo, soap, conditioner, toilet paper, etc. in my bathroom closet just so that I am ready when I eventually run out. Oftentimes, I do this in order to ensure that I get an item on sale as well. But, is this really the best method? I am thinking the answer is NO.
Inventory may add some flexibility to life, but with it comes a lot of negatives:
-Cycle counts are MUDA, they add absolutely no value, but must be done if there is inventory.
-Shrinkage, or unaccounted for inventories, are preventable costs that can add up if not careful.
-Who likes pilferage? It seems that inventory thefts lurk everywhere.
-Not to mention the simple costs of storing inventory. Holding costs can be some of the largest costs incurred by businesses because with inventory comes insurance, building, and additional labor.
I like to think of my personal inventory items as safety stock. I am not buying 12 shampoos for the future, therefore, my personal inventory costs are minimal if not 0. As for businesses, I know that a lot, including my old employer, lose a good amount of money by holding inventory. The trick, I believe, is finding suppliers that you can rely on to provide minimal lead time so that you can get more products quick and not have to hold a very large safety stock.