I like to think of it using the analogy of a highway. People in the past would leave plenty of space between them and the individual in front of them on the road, say 2 car lengths while traveling 35 mph. Technology improved, allowing us to move faster and faster, now we are all going 70 mph, 2 car lengths from each other. More dangerous than it use to be, but still some buffer space. Economists figured out they could fit 2 more cars on the road for ever car by putting them into that 2 car length space between each car. You can think of JIT as a way to fit more economic activity inside an area that in the past served as a safety zone (think large warehouse and having extra raw materials in case of an economic event or keeping cash on hand in a safe spot).
Well, the Coronavirus tree just fell on the road and everyone who was literal millimeters from each others bumpers just slammed into each other, creating a 330 million car pileup.
I like to think of it using the analogy of a highway. People in the past would leave plenty of space between them and the individual in front of them on the road, say 2 car lengths while traveling 35 mph. Technology improved, allowing us to move faster and faster, now we are all going 70 mph, 2 car lengths from each other. More dangerous than it use to be, but still some buffer space. Economists figured out they could fit 2 more cars on the road for ever car by putting them into that 2 car length space between each car. You can think of JIT as a way to fit more economic activity inside an area that in the past served as a safety zone (think large warehouse and having extra raw materials in case of an economic event or keeping cash on hand in a safe spot).
Well, the Coronavirus tree just fell on the road and everyone who was literal millimeters from each others bumpers just slammed into each other, creating a 330 million car pileup.
Anologies are always stupid. Just explain it like we are adults.