Just-in-time and just-in-case
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All 10 Flashcards — Just-in-time and just-in-case
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Question
What is JIT?
Answer
Just-in-time — ordering/receiving stock only when needed. No stockpiling. Right materials, right place, right time.
💡 Hint
Stock only when needed
Question
What is JIC?
Answer
Just-in-case — holding extra stock as a buffer against supply delays or demand spikes. Safety-first approach.
💡 Hint
Extra stock as buffer
Question
JIT suits businesses with ___; JIC suits businesses with ___
Answer
Reliable suppliers and steady demand; unpredictable demand or unreliable supply chains.
💡 Hint
Reliable vs unpredictable
Question
JIT = lean, low storage, risky if ___. JIC = safe but ___
Answer
Supply fails; expensive to store.
💡 Hint
Supply risk vs storage cost
Question
Many businesses use ___
Answer
A mix of both JIT and JIC depending on the product.
💡 Hint
Mix of both
Question
JIC advantages?
Answer
Buffer against delays, meets unexpected demand, less dependent on suppliers, bulk discounts possible.
💡 Hint
Buffer + demand + bulk
Question
JIT production is 'pulled' by ___
Answer
Customer demand — not pushed by forecasts.
💡 Hint
Customer demand
Question
JIC disadvantages?
Answer
High storage costs, cash tied up, stock may expire/become obsolete, more waste if demand falls.
💡 Hint
Storage + cash + obsolescence
Question
Three advantages of JIT?
Answer
Lower storage costs, less waste, cash not tied up in inventory, forces quality.
💡 Hint
Storage + waste + cash
Question
Three disadvantages of JIT?
Answer
No safety stock (supply disruption stops production), needs reliable suppliers, can't cope with demand spikes.
💡 Hint
No buffer + reliable suppliers + spikes
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Topic 5.3 hub
Lean production and quality management (HL only)
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