Impressive photo line up!

I wonder who is in charge of inventorying the inventory, and how often is inventory taken of the inventory?  During those frantically busy times, what happens if 'someone' picks the last piece from inventory and doesn't get it on the "replace" list, how long before it is noticed that the empty space on the shelf needs to be filled with "part X"? 

Around here, its a case of needing a part right now and 'knowing' I had one, but not remembering I used the last one until I need another one, and the space on the shelf where I 'knew' it was is empty.  Perhaps I need to label the shelves and remind myself to look through them periodically on a somewhat scheduled basis for empty labeled areas -- and I don't keep an extremely diverse inventory.

Another question - should or do you insure your inventory in case of tornado, fire, or theft loss.  $2-10k worth of inventory would be a sizeable loss, and would most insurance companies treat this the same as shop equipment or drag their feet if specific riders aren't included on your policy for "inventoried parts"?  Just wondering.