Additional stuff

Question 1

What is the difference between Just-in-Time and Just-in-Case mindset?

Answer 1

Just-in-Time mindset focuses on:
- efficiency and waste reduction through precise resource management.

Just-in-Case mindset prioritizes:
- resilience and risk mitigation by maintaining surplus resources as a safeguard against uncertainty and disruption.

Question 2

What is a disadvantage of diversifying supply sources. Meaning that now I don’t by only from Company X but also from Company Y, Z, A, B?

Answer 2

Risk of loosing economies of scale -> more product you buy the lower the cost per unit.

Question 3

What is a disadvantage of having a surplus of good to avoid risks?

Answer 3

Inventory costs are going to be high.

Question 4

How can one increase supply continuity and explain how?

Answer 4

Robotics and automation:
Investment in these technologies could build resilience by reducing labor costs and mitigating exposure to labor shortages, especially collaborative automation focused on simple processes like packaging and palletizing.

SKUs:
Reducing SKUs to simplifies and reduces variability in forecasting.

SKU -> unique code consisting of letters and numbers that identify characteristics about each product, such as manufacturer, brand, style, color, and size

Question 5

What has come along with supply chain scrutiny (anxiety/resilience etc.)?

Answer 5

1. E-commerce
2. Direct to business selling my jumping middle man.