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How the world ran out of everything

The Just In Time manufacturing that minimises the need to build up inventory is leaving companies at the mercy of pandemic-led disruptions

June 02, 2021 / 08:33 PM IST
How the world ran out of everything

AP

Peter S. Goodman and Niraj Chokshi In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimizing the need to stockpile them. Over the past half-century, this approach has captivated global business in industries far beyond autos. From fashion to food processing to pharmaceuticals, companies have embraced...

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