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Nearly all industries have moved to Just-In-Time to reduce costs, at the cost of making the entire economy more fragile. We saw this highlighted in the pandemic
by tehjoker 6y ago
Nearly all industries have moved to Just-In-Time to reduce costs, at the cost of making the entire economy more fragile. We saw this highlighted in the pandemic as suddenly there were no reserves of hospital capacity due to JIT optimization.
- to11mtm 6y agoHeck even consumer goods like toilet paper were impacted. JIT is useful when the end-product has a high depreciation rate and/or you forsee yourself frequently changing the part out for a newer version. Another tendril on the issue; modern accounting practices tend to prefer JIT instead of the costs/overhead mechanics of storing inventory.