Some say yes, to be replaced with something called Just-in-Case (JIC)
There’s an increasing sense among manufacturers that the shortage of raw materials, components, and assemblies experienced during the pandemic was a result of years-long efforts to streamline supply chains for JIT manufacturing and increase efficiency [article here (may see paywall) and here*].
Examples:
The inability to secure or build enough ventilators early on in the pandemic
Lack of parts for virus testing kits (special swabs, etc.)
Not enough vaccine production capacity (still an issue in Europe)
Recent shortage of semiconductor chips in the auto industry
As a ‘lessons learned’, many companies are expected to stockpile supplies to prevent a similar occurrence in the near future. Is this a case of organizations trying to fight the last battle but eventually returning to JIT? Or did the pandemic really usher in a new paradigm in JIC manufacturing? Did companies ever really embrace JIT in the first place?
What do you think?
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* Thanks to Jorge Rivera for letting me know about this article.