Free To Choose Network | Just In Time | Johan Norberg’s New and Improved @freetochoosenetwork | Uploaded August 2022 | Updated October 2024, 12 hours ago.
What transformed a poor and desperate island nation into an industrial powerhouse competing on the world stage? In this episode of Johan Norberg’s New and Improved, Norberg shares the origins of “Just In Time” manufacturing and addresses myths and criticisms it faces today.
“Just In Time” is a production system that involves procuring supplies quickly and cheaply from across the world at a moment's notice in order to minimize storage and surplus costs. It came under criticism when global trade was disrupted and shelves were left empty.
In this video, Norberg argues that the incredible success of the “Just In Time” process stems from how it uses learning to adapt to unforeseen challenges. Rather than a death blow, the global pandemic served as a learning opportunity and now suppliers are roaring back to life.
FOR FURTHER STUDY
Y. SUGIMORI, K. KUSUNOKI, F. CHO & S. UCHIKAWA, Toyota production system and Kanban system Materialization of just-in-time and respect-for-human system
tandfonline.com/doi/abs/10.1080/00207547708943149
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Learn more about Johan Norberg’s New and Improved and sign up to receive series updates at freetochoosenetwork.org/newandimproved/.
Follow Johan Norberg on Twitter @JohanKNorberg
twitter.com/johanknorberg
Johan Norberg is an author, lecturer, and documentary filmmaker, born in Sweden. He is Executive Editor at Free To Choose Media as well as a Senior Fellow at the Cato Institute in Washington D.C. and the European Centre for International Political Economy in Brussels. He received his M. A. in the History of Ideas from the University of Stockholm.
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Learn more about Free To Choose Media: freetochoosemedia.org
Shop for related products: shop.freetochoosenetwork.org
Stay Connected with Free To Choose Media
Facebook: facebook.com/FreeToChooseNetwork
Twitter (@FreeToChooseNet): twitter.com/FreeToChooseNet
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What transformed a poor and desperate island nation into an industrial powerhouse competing on the world stage? In this episode of Johan Norberg’s New and Improved, Norberg shares the origins of “Just In Time” manufacturing and addresses myths and criticisms it faces today.
“Just In Time” is a production system that involves procuring supplies quickly and cheaply from across the world at a moment's notice in order to minimize storage and surplus costs. It came under criticism when global trade was disrupted and shelves were left empty.
In this video, Norberg argues that the incredible success of the “Just In Time” process stems from how it uses learning to adapt to unforeseen challenges. Rather than a death blow, the global pandemic served as a learning opportunity and now suppliers are roaring back to life.
FOR FURTHER STUDY
Y. SUGIMORI, K. KUSUNOKI, F. CHO & S. UCHIKAWA, Toyota production system and Kanban system Materialization of just-in-time and respect-for-human system
tandfonline.com/doi/abs/10.1080/00207547708943149
* * * * * * * * * *
Learn more about Johan Norberg’s New and Improved and sign up to receive series updates at freetochoosenetwork.org/newandimproved/.
Follow Johan Norberg on Twitter @JohanKNorberg
twitter.com/johanknorberg
Johan Norberg is an author, lecturer, and documentary filmmaker, born in Sweden. He is Executive Editor at Free To Choose Media as well as a Senior Fellow at the Cato Institute in Washington D.C. and the European Centre for International Political Economy in Brussels. He received his M. A. in the History of Ideas from the University of Stockholm.
* * * * * * * * * *
Learn more about Free To Choose Media: freetochoosemedia.org
Shop for related products: shop.freetochoosenetwork.org
Stay Connected with Free To Choose Media
Facebook: facebook.com/FreeToChooseNetwork
Twitter (@FreeToChooseNet): twitter.com/FreeToChooseNet
Instagram (@freetochoosenetwork): instagram.com/freetochoosenetwork
LinkedIn: linkedin.com/company/free-to-choose-network
