JUST-IN-TIME TO JUST- IN-CASE

Dr.D.Sathishkumar, Asst.Professor, SIMS

            In the detection of ever-greater efficiency, many businesses de-emphasized chain flexibility and resilience. The situation calls for rebalancing priorities. Let’s Consider the farms growing food for commercial users here or in china. Pre Covid-19 these farms were highly efficient and offered products at the lowest possible cost. The current situation of commercial market has been decimated and farmers are forced to dump the commodities, financial victims of unanticipated change. To withstand a crisis balance the low cost and efficiency of the Just-In-Time model with a need to quick and responsive in reacting to market changes.

Minimalism

            Minimalism the supply chain will allow focusing on adapting to changing dynamics. The new option for the manufactures will  lower production volumes in reaction to reduce demand, while also eliminates models, by minimizing and re-sharpening the focus of the products that matter most to clients. Outsource activities that are not core to the business, so management’s time and attention are devoted to activity that support business community.

Cooperation

            Prioritize partners who have skills, tools and knowledge that will enhance the companies’ capability and minimize risk. Supplier’s who operate in multiple markets or who can flex up and down increase’s the company alertness.

Hardiness

            Producing closer to the selling market, or holding a larger inventory of sensitive items or double sourcing key products, Builds insights and visibility to change by eliminating layers between manufacturing and the final customer. To get direct, early feedback on local conditions, place boots on the ground in overseas manufacturing locales or in key selling markets.

Dismissal

            To reduce risk, companies have to be ready with the next option or next plan, the difficulties by the previous year had highest number of trucking bankruptcies, the reflection of cancellation and sky-high air freight rates. To solve these companies should be ready with the supply chain new solutions.

Innovation

            The risk of change goes way down in a crisis. If the work is not completed or not working today we have to try something new or alternate. Majority of the marketplace changes we are experiencing in this current situation, is the continued migration to e-commerce, the growth of new deliver services and working from home, to names a few- will probably remain with us. Speed company decision- making and try out something new to meet the changing circumstances.