1. As a management accountant, do you think you would have a role in evaluating use of technologies such as IoT devices?
2. Can you think how costs might be reduced by such technologies?

Just-in-Time (JIT) manufacturing and inventory systems have been operated by many companies to reduce manufacturing time, reduce waste and ultimately increase profitability. The JIT concept is based on close relationships with key suppliers, which means a high degree of information exchange. However, even in such highly organized operations, Murphy’s Law – anything that can go wrong will go wrong – still applies and this gives rise to the expression Just in Case inventory control. For example, after the 2011 earthquake and tsunami that hit Japan, many electronic components were in short supply, causing problems for those using tight JIT production schedules (Reuters, 2011). Technological developments in recent years have offered some help to tight JIT logistic scheduling. Scott Dulman (2016), writing for Supply and Demand Chain Executive, reports how the Internet of Things (IoT, which is essentially internet-enabled devices) provides in-transit visibility of goods as trucks and even shipping units can be tracked real-time via the Internet. This may be particularly relevant at busy times, when whole supply chains come under pressure. For example, with an IoT enabled delivery truck, a retailer can know a delivery is a short distance away from their premises – due to a traffic delay perhaps. This information allows them to plan accordingly.