When Toyota initially created the just-in-time (JIT) approach to inventories, its factories and those of its suppliers were located near each other. Their proximity eliminated “wastes” like transit time and excessive inventory and enhanced collaboration at all levels.
Don’t Abandon Your Just-In-Time Supply Chain, Revamp It
Building in strategic buffers can make it more reliable.
October 20, 2022
Summary.
The supply chain disruptions caused by the pandemic, natural disasters, war, and geopolitical tensions have called into question the viability of just-in-time global supply chains. But instead of abandoning them, companies should redesign them. This article offers a method for doing just that.