Class 15 Discussion - Just-In-Time or Just-In-Case

Listen to these two news stories from Marketplace (or read the transcript):

"Just-in-time" manufacturing model challenged by COVID-19 - 2/27/20(Links to an external site.)

Why business owners are stocking up on inventory - 6/15/21(Links to an external site.)

Think of our discussions on inventory/working capital management. Answer the questions below. (Be sure to show professionalism in your tone/grammar.)

• What did so many companies move to a Just-In-Time model in the first place? What are two advantages of Just-In-Time inventory?

• What are two of the now-apparent problems with this model?

• How would a move to a "just-in-case" model affect product costs for companies?

In case the links above do not work:

https://www.marketplace.org/2020/02/27/justintime-manufacturing-model-challenged-coronavirus/(Links to an external site.)

https://www.marketplace.org/2021/06/15/why-business-owners-are-stocking-up-on-inventory/(Links to an external site.)

Optional: If you found those stories interesting, check out these two:

https://www.marketplace.org/2020/05/29/companies-scramble-to-protect-their-supply-chains/(Links to an external site.)

https://www.marketplace.org/2021/06/21/whats-driving-all-of-the-shortages-in-the-pandemic/(Links to an external site.)