Toyota ditches signature ‘just-in-time’ to fight chip crunch

toyota ditches signature just in time to fight chip crunch

Sumary of Toyota ditches signature ‘just-in-time’ to fight chip crunch:

  • TOKYO — Global automakers are increasingly shifting away from traditional practices where they only keep a limited stock of key components, with the COVID-19 pandemic and international tensions stoking shortages of technology such as chips.
  • Companies are also moving to sign long-term contracts with semiconductor manufacturers lasting for several years or to try to order one product from more than one company.
  • By 2030, when many more electric vehicles are on the road, the British research company expects the car industry to be spending 30% more on chips.
  • Seiji Sugiura, a senior analyst at Tokai Tokyo Research Insititute, said Toyota grew less efficient as it began stockpiling “chips and materials whose prices are going up.

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