Free Republic

Ongoing disruptions in America’s supply chains have prompted manufacturers to review and modify their inventory management systems. Just-in-time (JIT) inventory management, which calls for the right amount of inventory at the right time, has long been the standard. However, just-in-case (JIC), a system which focuses on keeping extra inventory on hand, has recently gained attention. “The question of JIT versus JIC is a question leadership teams the world over are facing,” Billie ‘Akau’ola, a director at Riveron, a national business advisory firm, told The Epoch Times. JIT, which was developed by Japanese firms around the 1970s, has always focused on...

In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimizing the need to stockpile them. Over the last half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced Just In Time to stay nimble, allowing them to adapt to changing market demands, while cutting costs. But the tumultuous events of the past year...