From 'Just in Time' to 'Just in Case'

TL;DR

Businesses often adopt management trends like 'total quality' and 'just in time' without critical reflection on their applicability to specific circumstances.
Poor implementation and misunderstanding of these concepts, rather than the concepts themselves, lead to business failures.
The 'just in time' approach, prioritizing efficiency and low inventory, proved fragile during the pandemic due to its lack of resilience to disruptions.
There's a growing recognition of the need to move from 'just in time' to a 'just in case' strategy, incorporating buffer stocks and diversifying suppliers.
Concepts like AI and 'innovation' are also at risk of becoming mere buzzwords if not integrated thoughtfully into an organization's culture and operations.

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