Manufacturing is undergoing huge changes, and not just because of the coronavirus pandemic.
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Lean manufacturing is built on the premise that reducing waste, eliminating redundancies, and operating with precision are key to succeeding in the marketplace.
In this model, extra inventory equals wasted resources. It assumes a supply chain that is always on, always available, and always responsive.
But as we’re seeing, that assumption doesn’t always work. For manufacturers that create things like parts for cars, planes, machinery, and other major equipment, a “just-in-time” inventory model—in which you keep only the bare minimum of additional inventory you need to meet customer demand—can’t operate if plants are shut down for three weeks, say, due to a global pandemic.
This new reality is a challenge to lean manufacturing, but it doesn’t mean the model itself is no longer relevant. What it does mean is that transparency and…
