GBZ, following you Stores argument, I saw an OU Maths programme many years ago, long hair, patterened shirts, pointed collars. It was an extremely powerful presentation and I have never forgotten the lesson.
It centred on a coal mine and just-in-time and cost-of-holding against not having what was needed.
He used two things as an example.
They used thousands of nails every week. New nails arrived weekly and replenished the stocks. Nails were cheap so there was no real saving in bulk buying, say monthly, but there would be additional costs of holding - infra structure, storemen, security etc. Buy just in time.
The other was a pit winding wheel. It cost £120k. It would be required infrequently, maybe once every 18 months on average. But it would take 3 months to make if it was ordered only when needed. In the mean time the pit would lose £5m in lost production. Hold stock.
We certainly try the first trick of only ordering clothing just-in-time. (I remember the thousands of size 5 boots that were surplus after national service ended). Try just-in-time with aircraft, tanks, rifles etc
