Question

what are examples of just in time management during coronavirus?

Answer 1

Defenition of Just in time management:

Just in time management means purchasing the materials for up to day need.Just-in-time purchasing benefits the industry by lowering the carrying cost of inventory

some of the examples of Just in time management during coronavirus are

1)Hospital purchase:

Explanation:A hospital purchase manager decides not to purchase the materials in bulk as the revenue from patient consultation is less and bulk purchase lead to over stocking of goods which result in low profit as the majority of material shows slow movement and purchasing in bulk lead to loss of margin

As spread of corona virus most of the consumable stock has a control as the hospital management dont want to pay for stock due to low revenue generation due to low patient flow.So purchase managers decide the material to be purchased which moved on the day or in short time to be purchased to increase the profit by showing the stock less.

For example mask to be purchased in bulk beacause its highly movable in the situation but Boost ,baby foods etc need not be stored in bulk as it will not move from stock in short time as the specific patient is low in consultation

2)FMCG sector:

Fast moving commoditity goods sale will cut shorten and will be delivered by split up supply or keep the reduced quantity in stores to avoid damage of materials due to low purchsing  of materials by customer.This help them in increased profit by maintaing low material stock

For example :Stock of egg will be maintained as per sales and for few days as excess stockage will lead to damage the eggs due to non-movement

3)Vehicle spare parts:

There will be less sales for vehicle spare parts are the number of vehicle on road will be less and accidents will be low so that spare and consumables to be stock to meet the need to avoid bulk stock investment loss

4)Oil prodction and stock in dealership outlet

As the vehicles on road is less consumption will be low for oil industry so a cut down in production will be made and supply will be rescheduled to alternate days to maintain the stock in outlets.

Above told are some examples of some of the examples of Just in time management during coronavirus