Question Details

	Username: Fluffy Rating: Asked to: Dara Madee Date Created: 25 Jan 2016
Category	21
Tag	Financial
Question	Please describe 'just in case' strategy.

Advice from Guru

Hello Fluffy,

The JIC inventory strategy is much different than the newer 'just in time' (JIT) strategy where companies try to minimize inventory costs by producing the goods after the orders have come in.

The older 'just in case' strategy is used by companies that have trouble forecasting demand. With this strategy, the companies have enough production material on hand to meet unexpected spikes in demand. Higher storage costs are the main disadvantage of this strategy.

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