For years, the Just In Time (“JIT”) strategy was seen as the ideal model for electronic components. Then the world got complicated in ways no-one saw coming, with COVID lockdowns, international trade tensions between the US and China, and the Ukraine war. The lack of resilience in JIT became a major problem. Major motor manufacturers had to shut their production lines, due to lack of components. This led to a new strategy, Just In Case (“JIC”), to replace JIT .
Most companies that purchase electronic components are find that shortages are becoming more and more common, just as more industry sectors become reliant on those components. Here’s why. (more…)
