LOGISTICS
Under JIT , a business makes only what it needs , draining and replenishing inventory as required . Apple CEO Tim Cook turned Apple into a globall beast using the JIT model . With JIC , companies keep large inventories on hand , to minimise the likelihood a product will go out of stock . Jörg Schafer , EY Global Retail Supply Chain Leader , feels inventory models are determined more by sector , than whether supply is chain- or network-driven . “ In an industry like retail or consumer , where people have immediate demands ,
86 March 2022