Unlearn … Just in Case
Posted in Business, General, Management, Manufacturing, New Cards, Retail, Supply Chain
The global supply chain is an impressive feat of modern management. The problem is that in its quest to squeeze out ever greater efficiencies with its "just-in-time" system of inventory it has left itself extremely vulnerable to large, rare and unpredictable events such as the recent Japanese earthquake-tsunami.
Such events are, of course, unpredictable but one way to prepare for them is to create a small 'just-in-case' inventory. It might not be efficient but, when it really matters, it could save a company's bacon.
If you are a slave to efficiency and "six-sigma" thinking, it might behoove you to unlearn your strict reliance on "just-in-time" inventory … just in case the unexpected happens sometime in the future.
P.S. I realize the cartoon doesn't really match the theme of this post … I just thought it was funny.
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