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 efficient inventory management, the exact opposite of stockpiling parts and supplies on shelves and in warehouses. “The manufacturer would work with the suppliers so that the product or raw materials would arrive right when they were needed and no sooner,” Dan Luttner, managing partner at Plantensive, a MorganFranklin Company that …
Amid Shortages and Delays, Industries Question Old Inventory Strategies
October 31, 2021
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