"They ignored huge swaths of The Toyota Way, and created a system that's less effective and less resilient, but can impress shareholders through short-term savings." Sums it up in one sentence. Really great video!

@santisven

3 жыл бұрын

Well it's not easy for companies to implement the toyota production system. When they decide to go that way, they usually take years in learning it from advisors. On the other hand, a less effective production system means higher prices, and taking away goods and services that everyone can afford from the poorer people.

@blucy10

3 жыл бұрын

I literally just pulled my copy of The Toyota Way Fieldbook off the shelf behind me. The processes work, yet I've seen many examples of people fighting the process.

@mzaite

3 жыл бұрын

It's basically a form of MBA Cargo Cult. None of these CEO's are worth the dirt it will take to burry them. They just monkey seed and monkey did with no understanding of what they were doing. And for that they get rewarded.

@nnakawatase5305

3 жыл бұрын

I've worked in mfg most of my life and every company I worked for tries to implement 5S, JIT, Lean Mfg etc. But the problem is a cultural one. In Asian society the kind of cooperation needed to implement these systems is taught and ingrained early on. In the US where the Individual is prioritized over the group it is too difficult to change the mindset, which is why these systems never fully get implemented correctly. This is a great video to explain supply chain basics to people. I don't think we will ever fix it but at least you can explain what went wrong.

@santisven

3 жыл бұрын

@@nnakawatase5305 Asia is enormous. In Japan, where it was born, they have a different culture, yes, also a different education. They do, however, respect each other's individuallity to a bigger degree than any other western cultured I've expirienced. That's key to their success. Since they're 6 yo, they even go to school on their own, and noone messes with them. Also, school education is very different. Most of them don't even have janitors because they teach each kid to clean up after their own mess. They know what's their job, where it ends, and where the other begins, and their goal is to deliver their part of the job as good as they can, for a matter of principles and respect towards the next person in the work chain. There's a saying in japanese culture, unrestricted respect for the other one's life's project.

"Less effective, less resilient, but can impress shareholders through short term savings." You just described pretty much every single company out there

@Dosedmonkey

3 жыл бұрын

Except for the cruise industry, as explained on their cruise industry covid video

@zojirushi1

3 жыл бұрын

Yup

@justinland1208

3 жыл бұрын

Well, publicly traded companies anyways.

@TheFutureOfMen

3 жыл бұрын

It’s ok to have some excess if you know that item it guaranteed to sell eventually. I’m learning this in retail stores.

@rudyschwab7709

3 жыл бұрын

The decline of Sears ought to be taught in every business school. Short term big cash grabs turn into long term catastrophes.

17:26 - 17:33 is my favorite takeaway from this video. SO MANY people are only interested in short term gains, NEVER playing the long game, thats a life lesson. always play the long game. invest in yourself and be consistent so that you can adapt for changes when they inevitably happen.

@C1azed

2 жыл бұрын

If you play the long game you won't get your billion dollar bonus from the share holders. At the end of the day so many of our modern problem can be traced back to the demands of shareholders, they destroy a companies rationality in the blind pursuit of profit, they consistently act more unethical then their private counterparts and they are the driving cause of many economic crises

@kcm732

2 жыл бұрын

@@C1azed you can still give shareholders their earnings, itll be less, but more over time. still, playing the long game is the winner, this is in theory obviously, and we live in a non perfect world and ppl are generally greedy. but, if cards are played right and ppl in power can keep their egos in check, things can work out as they should 🤷🏻‍♂️

@ViolenVaymire

2 жыл бұрын

For the individual this *Absolute* is a dangerous line of thinking. You are never guaranteed tomorrow, But more then that you are likely just trading your youthful happiness for your aged happiness, effectively doing nothing, and shutting your self off to things you could have only done when you were young. Finding happiness not so easy. Balance is far more appropriate.

@pluspiping

2 жыл бұрын

In that that case, it's really too bad that corporations are required to chase short-term gains, lest their investors not get richer, faster, constantly. If they feel like they could be making more money faster - short-term or not - they can simply demand things be changed. The way these companies run is beyond messed-up.

@TheGecko213

2 жыл бұрын

Every corporation has quarterly profits statement. If you don't show profit, you are fired.

The boba tea thing is really funny actually, because in Australia a "make at home" boba tea company called "bubble tea club" popped up during covid as the two owners were layed off DUE to covid and said "screw it, why not?" and now they ship internationally lol.

@udance4ever

Жыл бұрын

ah now I get it - ppl can stockpile boba kits & not disrupt their foodie supply chain! 🧋

The main problem can be summed up in the statement you made at 17:40 - Constructing a resilient supply chain requires long-term thinking, but most companies have not nurtured an environment that allows for that.

@carolmiller5713

2 жыл бұрын

On the other hand, people realize they don't really need all the crap they think they do.

@Meltedchair513

2 жыл бұрын

And we’ve prioritized this thanks to the lack of foresight by shareholders. If they solely care about short term growth and revenue they’ll dig their own grave

@jonragnarsson

2 жыл бұрын

Hey, those quarterly reports have to look good for our shareholders!

@ryan1840

2 жыл бұрын

They can't afford long term planning like that. It eats into short term profits, which would lower stock valuations, which would cause market recessions.

@ryan1840

2 жыл бұрын

@FlyingMonkies325 blaming the government for this is like blaming a construction company for bulldozing your house after being foreclosed on by a bank, then purchased by a real estate company that wanted to put an apartment on your property lot. It's just the tool used.

I knew from your title of the video that "Just in Time" manufacturing was going to be one of the causes you stated. I spent 26 years going between jobs in the air freight, ltl trucking, warehousing, and logistics industries and I saw "just in time" in action and just how customers got screwed up because they relied on it too much. I can't tell you the amount of times (it would definitely be over a hundred) I heard "we got to get it there because they're going to have to shut down a line if we don't". It's no wonder that during the covid crisis, that the problem would be exacerbated !

@kylewilliams8114

3 жыл бұрын

Just in time shipping relies on perfect conditions, which as you know better than me, doesn't resemble reality 🤣

@SoybeanAK

3 жыл бұрын

*exacerbated. Anyhow I bet some of your stories are legendary. I used to work with a machinist who recalled, in his youth, getting paid to ride his Suzuki 1000 at stupid speeds to take a simple chunk of carbide to meet up with a guy in a parking lot to keep a heavy equipment line rolling. These planners are sketch!

@ojas.rastogi

3 жыл бұрын

I had the same thought going into the video, although I don't have any experience in it yet

@moony2703

3 жыл бұрын

Also the irony when almost _nobody_ can get into the country but you’re holding a box boldly stating it’s from x overseas country. Deliveries yes, people no.

@-DC-

3 жыл бұрын

25 years in trucking and totally agree, People have no idea how quickly things will fall apart if those trucks stop rolling, The entire supply chain works on a absolute knife edge.

"A ruthless pursuit of short term profit, at the expense of long term gain is the cause". A truer statement has never been uttered!

The archival footage of the factories in Japan is genuinely cool

@phillipjacobs9982

2 жыл бұрын

So cool because from Japan. Jdm life. Anime is cool 😎. Piss off mate

The quarterly report has become the bane of humanity.

@edrcozonoking

3 жыл бұрын

The millisecond price change and exchange of stocks and the executive payment through stocks has become the bane of humanity.

@CaptRye

3 жыл бұрын

"Sure, we destroyed the world(economically and physically). But for a brief time (25+ years so far) we made incredible gains for the shareholders."

@blakereader6661

3 жыл бұрын

We are living in the most prosperous time in human history

@Npouliot

3 жыл бұрын

@@CaptRye i imagine two guys next to a post apocalyptic burn barrel and one guy is saying, "i consistently had 17% returns for 12 years, Gary. 17%!" while a rat runs away with their last piece of bread.

@randomdude8877

3 жыл бұрын

@@blakereader6661 But it remains to be seen for how long we can keep this up. The US and other countries took huge new debts and are printing money like crazy, which in turn will raise the inflation rate. And there are always talks about the bubble on the stock market that could burst any minute. A lot of uncertainties for the future. Lets hope they dont mess it up, i love my lifestyle and dont like to give it up lol

The supply chain version of living paycheck-to-paycheck. Get the flu and miss a few days of work. Paycheck is short. Overdraft fees hit further reducing your balance. Then the late fees kick in when overdrafts stop being covered. Skip the car payment to make rent. Borrow money from your cousin for the kid's school supplies. You'll catch up eventually. Maybe.

@rkan2

3 жыл бұрын

That is also how the whole economy works... Try to develop enough technologically before all the resources to do so run out... Maybe you'll catch up.

@jelink22

3 жыл бұрын

Yeah, this is the norm all over America. SNORT.

@travcollier

3 жыл бұрын

Worse even... A lot of these companies are more about finance than manufacturing. A lot of their income is based on borrowing to lend... And round and round it goes, for a while.

@kanishkasahoo3761

3 жыл бұрын

This is one of the most accurate analogy for the shortages i have ever heard.

@per619

3 жыл бұрын

Exactly analogy.

Seriously, after this COVID disruption to supply chain issues (ie. lack of semiconductor chips), every country should have their own manufacturing facility to avoid supply disruptions. Canada should have their own manufacturing facility. Sure it may be more expensive (due to mostly labour cost), but it should ensure constant supply and less price fluctuations. The world cannot just rely on China and India to manufacture critical materials like medical supplies/medications and semiconductors.

@aurious5821

2 жыл бұрын

@Peter P at this point they should do it for national security :/

@lovrovalentic3056

2 жыл бұрын

Yea ,world would be a better place if we had MORE factories and every country can produce their own goods they need . But it is not how things work. People specialize

@aurious5821

2 жыл бұрын

@@lovrovalentic3056 which makes sense in this globalized community but things like computer chips are pretty core to very significant parts of our society and right now its production is extremely centralized.

@theclamhammer4447

2 жыл бұрын

Countries aren’t designed to be independent anymore. Globalists have been imposing their will and have succeeded.

@NeostormXLMAX

2 жыл бұрын

@Peter P the us is already doing this for semi conductors, as taiwan is about to get invaded, and in this case half of the world is going to crash, as its literally 90% of all semi conductors aka phones, cars computers and every electronic ever.

It's fascinating that the auto industry had these problems recognizing which parts of their supply chain should be flexible and which shouldn't. Car construction today is based around identifying 'crumple zones', parts of the car that can flex and compact to absorb energy in a crash, around a rigid frame. Their supply chain is no different: some parts can flex and some must remain rigid for it to work.

@JohnSmith-nz2yq

2 жыл бұрын

You hit it right on the head. Principles, principles, principles! Details differ, but principles prevail.

6 months from now we're going to see a video from Wendover titled "Why Every Rental Car in Alaska is a Toyota"

@tixx7492

3 жыл бұрын

Thats a job for HaI

@jeffreypierson2064

3 жыл бұрын

In a year they will be Toyota, because they buy in the Spring

@northerntao

3 жыл бұрын

Rental cars are always scarce here in Anchorage during the summer.

@tipsy5986

3 жыл бұрын

For the Record they are Subaru's.

@dakania

3 жыл бұрын

It’ll be real life lore covering why every car in Alaska is a Corolla

*Can’t get a graphics card* Wendover: And I took that personally

@AxxLAfriku

3 жыл бұрын

HOLY HOLY!!! I can proudly say that I have the two HOTTEST women on this planet as MY GIRLFRIENDS! I am the unprettiest KZreadr ever, but they love me for what's inside! Thanks for listening mx

@ianl2771

3 жыл бұрын

@@AxxLAfriku stfu

@ryan_lmao

3 жыл бұрын

honestly man i just want a 3080

@aoelp

3 жыл бұрын

@@ryan_lmao Oh what a humble being you are. 😂

@paramjeetsolanki

3 жыл бұрын

thats coz of all the scalpers

There might be an economical turmoil but there is no doubt that this is still the best time to invest.

@dorissteve912

2 жыл бұрын

Best time to invest? thats funny tho because in the last four months I have lost more than $47,900 in stock market which is the biggest I have loss since I ventured into stock investment.

@williamjohn1374

2 жыл бұрын

you could be right or wrong depends on your expertise, I once made such loss when i invested thinking i have gathered enough trading skills from youtube videos but now its a different ball game for me because I was lucky to have met "Tamara Diane Hagan", a financial manager and stock expert, I have made more than $165,000 in 6 weeks under her supervisions.

@fredrickconte6270

2 жыл бұрын

Really? people are cashing in from the stock market and frankly speaking its comforting seeing someone admit to the fact that they actually seek help from professionals. please how can i reach Tamara ?

@williamjohn1374

2 жыл бұрын

search her name on the internet to reach her

@Laura-Yu

2 жыл бұрын

Shut up bot

Happy to see it at least got a mention that one of the keys to TPS was the elimination of rework/getting it right the first time. More companies should pay attention to this!

Studied Toyota's supply chain for a month this semester at university. Amazing how well they learned in 2011 to prevent (minimize) disruption down the road.

@disunityholychaos7523

3 жыл бұрын

what type of class is that business management? financials? (highschool new upcoming graduate here, trying to know the world better)

@bufonrox

3 жыл бұрын

@@disunityholychaos7523 Supply Chain management. Huge career opportunities in it, if you want to learn more of what it entails is lean six sigma certifications. Most business schools have a supply chain management major. I study Management Information Systems that touches on those topics too, but not in as much detail

@disunityholychaos7523

3 жыл бұрын

@@bufonrox Cool TIL, thanks for letting me know cheers!

@aubryscully6541

3 жыл бұрын

Current supply chain management major here. Feel free to PM me if you have any questions about the field or want to chat on the topic!

@alainarchambault2331

3 жыл бұрын

Great, you guys are studying it yet we still get caught with our pants down. Guess the only way to fix a problem is when it comes up and smacks you in the face.

17:27 "A ruthless pursuit of short-term profit at the expense of long-term gain" That's it right there.

@youferrer

3 жыл бұрын

Blame the Republicans and Clinton Dems on this. Their polices stressed short term over long. If a CEO was to take a long term view, he'll soon be replaced. The reason is that they tied retirement to stocks, so pension funds and individual investors just look at quarterly returns. Wall Street, which manages said funds, are compensated on those results, and so on. So the funds control the board, they construct the comp package, and the package is tied to short term stock results.

@hobbyoftheday4017

3 жыл бұрын

I read this comment as he said it

@MrJm323

3 жыл бұрын

@@youferrer But, now, the Commie Dems are controlling everything, .....I'm sure life is going to improve for everyone!

@hotpuppy1

3 жыл бұрын

@@MrJm323 While the Republicans cut your pay and fill their own pockets.

WOW.... As a young engineer in collage, I remember learning all about JIT production... Now I can understand how things can go right, and go wrong.

@dennismusch1623

2 жыл бұрын

an engineer that can't spell college.. boy we are in trouble.

@johannmueller9660

2 жыл бұрын

@@dennismusch1623 Yeah... embarrassing. It's not like Engineers have EVER made a mistake... at least it was just a typo and not a Billion Dollar Project. XD

A similar argument can be made about building maintenance and energy production. False profitability calculations being used to justify getting rid of maintenance staff or cleaning staff in favor of contractors with no vested interest in the company. Contractors often profit by ignoring a problem they recognize but aren't responsible for to increase costs.

I was a Materials and Demand manager for more than 30 years. When the JIT concept took over, the only thing my bosses would ever consider is practically zero safety stock regardless of demand fluctuation nor vendor/materials reliability. At the same time, they required perfect shipping on time. I spend my whole career in this pressure cooker. I wouldn't wish it on my worse enemy. I knew JIT was the reason behind the shortages as soon as they started happening.

@lat1419

3 жыл бұрын

Same here, I used to work for a major food retailer, from 1980s. It destroys farmers and farming. It destroys staff. It destroys the environment, and clogs roads too with lorries taking food to single distribution centres to then be taken across the country.

@1Afattybombatty

3 жыл бұрын

LIES

@1Afattybombatty

3 жыл бұрын

Every conspiracy post EVER : some guy saying he did some job and now he does not...just leaves comment on YT....smell the BS people..look thru the lines here. Martin was not a M and D manager for 30 years...he;s a fat kid in Toledo eating Cheetos and living in the basement. SMH kid

@z-beeblebrox

3 жыл бұрын

@@1Afattybombatty That's a decent rule of thumb I guess, but JIT's failings are not a conspiracy. Its negative impact on workers and infrastructure, and its fragility to market instability, is not only well-documented but is very clearly the cause of the current supply shortages that are empirically happening. In fact, it's so well understood that people who recognized what was happening were able to predict this effect at the very start of the pandemic. And you don't need to trust anyone's world to confirm this information, the raw data is available, sourced, and verifiable. Also, why would a kid have the pfp of a 50 year old guy hiking? Or lie about being in M&D? Hell, would even know that's a *job?* There's a guy in another thread blithering about how mass market bread has nutrients with the wrong electron count. Go after him

@najaradio645

3 жыл бұрын

You're 100% correct.

I can’t believe he led with a seemingly obscure explanation of the boba supply chain back to Taiwan but then didn’t revisit the Taiwanese connection to semiconductor production dominance at the end of the video

@TheTechiemoses

3 жыл бұрын

It's cause it was about shifting blame from 'morbid greed" or "business efficiency" to happy logistic accidents. Like we shouldn't be grabbing pitchforks, cause we gotta understand. It's easy. You see the trash with everything screaming. You see the ones building and creating. Not the same. Took 17 minutes to finally point the problem out.

@pbj4184

3 жыл бұрын

@@TheTechiemoses What the hell are you saying?

@mrplop38

3 жыл бұрын

@@pbj4184 I agree lol

@loganbenner1846

3 жыл бұрын

@@pbj4184 there is a balance to understanding the truth

@xsusg8924

3 жыл бұрын

RIGHT?!?! I was thinking the exact same thing... 🙄

I have enjoyed your videos, but this one was exceptional, and you explained a complex problem, about a multifaceted system, in such a straight forward way. Thank you. :)

This might be your best video yet, it's definitely the one I feel the most personal passion in.

Aha! I remember back in college, we learned about "Just In Time Delivery." And I remember thinking, "As soon as there's the slightest glitch in the supply chain, this is gonna result in disaster for some entire industry!"

@LarryJohnVA

3 жыл бұрын

Decades ago, when I heard of "just in time" deliver, I know some people were already calling it "late" delivery. :-)

@interstellarsurfer

3 жыл бұрын

Little did we know, it would be all the industries at once. 🤷‍♂️

@Hotspur37

3 жыл бұрын

and this all came about because some bright bulb with a degree in economics but no real world experince decide a company could cut cost by not stocking anything till it was needed

@johnj3577

3 жыл бұрын

@@Hotspur37 Yep I work for a company who have consistently forced us to reduce stock levels of electronic components year after year for the last decade despite us pleading with them that it was a recipe for disaster should something go wrong. Delivery times from the far east were already 16 weeks when everything was ok. Did they listen to us? No. What's happened now? Our sales have plummeted despite demand being high because we can't get components. Now they are telling us to reduce our wage bill (fire people) "because you don't have sales", and apparently that's our fault too. Idiots with a textbook are dangerous.

@hepthegreat4005

3 жыл бұрын

Just in time is also used to schedule retail workers.., it's hell. Basically most of those jobs don't give you enough hours so you need two jobs, so add just in time scheduling to that and you have to scramble to fix the schedule yourself by begging for people to take shifts or give shifts, and then if you don't get enough hours to pay the bills you sit by the phone all of your free time praying for a phone call.... That's bullshit.

Thanks for this, I run a boba shop in Texas and now I can show customers this video instead of trying to explain why we lack ingredients and supplies.

@madensmith7014

3 жыл бұрын

I just wanted some tapioca now I learned something about Toyota Fuck I'm late for work

@nineteendelta770

3 жыл бұрын

Where is your boba shop?

This is the best video that I have seen on this channel. Excellent, in depth, and understandable explanations. Thanks!

This was so good. Thanks for all the effort and the clear explanation! Taught me a lot.

I was waiting for my favourite logistical specialist to tell me what’s going on in the logistical world.

@TheTechiemoses

3 жыл бұрын

It was morbid greed the whole time. Everything in this shortage come down to "efficiency" aka morbid greed. Cut here, reduce here, layoffs there and bump then crash. Cause of greeeeeeeeed!!!!!!

@lawjef

3 жыл бұрын

They are amateurs who struggle with basic finance and economic concepts. Grab a textbook before relying on this ad generating algorithm. Seriously, it's entertaining but not at all reliable

@lawjef

3 жыл бұрын

@@TheTechiemoses yes if only greedy consumers didn't prefer cheaper goods we wouldn't need these supply chains.

@Isometrix116

3 жыл бұрын

@@TheTechiemoses Ig the problem is that you, as a company, can ill afford to not be greedy. If you aren’t greedy, you can’t have lower prices, if you can’t have lower prices, someone else will and you won’t have a company anymore, therefore you can only exist if you do this. It can be called a flaw in capitalism, but it’s really just a flaw with any large scale production. Since everything is necessarily large scale, no matter what system you choose, so long as it contains large scale and complex goods manufacturing, it’ll have this issue.

@danpop1235

3 жыл бұрын

@@rashid8646 your right but that means is caused by presvese instevestevies in the system it's self which is a problem just one that's a lot harder to fix.

"Just in case" morphed into "Just in time", now we are facing "Just too late"

@TheTechiemoses

3 жыл бұрын

Morbid greed or logistic Efficiency, different words same meanings. Cut their, save here, layoff there, and after trimming the fat they had no padding. Now we gotta bail them out? Now we gotta give em empathy and understand?

@gumnaamaadmi007

3 жыл бұрын

To be followed by ‘too little, too late’

@theeutecticpoint

3 жыл бұрын

Oooh snap!

@walterbrunswick

3 жыл бұрын

@@gumnaamaadmi007 to be followed by "Just the end"

@sirmount2636

3 жыл бұрын

@@TheTechiemoses We already bailed them out. The pharmaceutical corporations received billions to manufacture & sell the vaccine.

I've learned so much about supply chains, the work force and human nature. Thank you, Wendover Productions

Beautifully put together. Well done !

So, literally, everyone operating on short-term just-in-time delivery models compounded in every direction to ensure that the steady flow previously maintained and economies of scale previously enjoyed are now, themselves, liabilities.

@ndrose

3 жыл бұрын

jIT. Ah yes. It was always on the edge of disaster but US companies followed the Japanese model even though the US doesn’t have the same power & control over the industry

@BW-fe8dq

3 жыл бұрын

Something that I find ironic is that this model of continual flow manufacturing, where products are made and shipped in as small of a batch a possible to better facilitate quality and the economics of business, is a pretty new concept. Like, within the last 20 years or so new. It has existed before, but only got pushed recently over the previous style of batch manufacturing. I gotta wonder how much of this shortage-demic was due to a newer style of business that relys on a prefect functioning system to work.

@insiainutorrt259

3 жыл бұрын

liability for you.... advantage for who?.... figure out how the world works already...........

@zdenekbenedikt9900

3 жыл бұрын

@@BW-fe8dq o9ooo9lo

@50733Blabla1337

3 жыл бұрын

@@insiainutorrt259 ?

One thing covid taught me, there is a lot I can live without. Want v need.

@rogerc23

3 жыл бұрын

Politicians, media, gov't, etc.

@Satyaprakash81102

3 жыл бұрын

This comment deserves more likes. Surprisingly, not enough have liked this most basic truth of modern human society.

@jeremycloutier7031

3 жыл бұрын

FINALLY!!!! SOMEONE ELSE GETS THE POINT! SERIOUSLY, THANK YOU!!!

@VIKDR1

3 жыл бұрын

This is a basic part of capitalism even though most people don't understand it.

@soberanisfam1323

3 жыл бұрын

No spending = no jobs. Your frugality is costing jobs

Titanic’s design wasn’t flawed - it was pretty well designed, so much so that people became overconfident claiming it was unsinkable.

I cant believe you made a video on buisness and manufactering, that I actually found interesting and watched to the end. Good job man that's a sub from me.

Told a dock manager one time a few years ago. “ You know one day you fellas are gonna regret this whole just in time scheduling thing” he berated me saying I don’t know what I’m talking about and just to drive my truck. Now he and most his staff are unemployed and I’ve got a very target rich environment of loads to pick and choose from. Guess I won that round.

@Bob_Shy_132

3 жыл бұрын

Sometimes patience is beneficial.

@jayoscran27

3 жыл бұрын

The truth is you were both half right

@actionjackson9121

3 жыл бұрын

you won the battle, but lost the war...remember that

This is your greatest video so far. I am an economics professor and you have just summarized in 20 minutes what it would take months for students to learn in the classroom.

@Sarafimm2

3 жыл бұрын

And smashing the place up and/or burning it down doesn't help either.

@mclovin9151

3 жыл бұрын

I'm glad I am not taking your econ class then. Covid is not directly the only thing responisble for these shortages. Everyone blames everything on Covid. I bought a fridge the other day and they didn't install it correctly bc "COVID" it is truly dumb

@mclovin9151

3 жыл бұрын

someones comment was deleted so ill ad what i can see of it "filmolosophy replied: He doesn't go into ANY detail as to why there's a trucker or worker shortage though. Horrible government policy paying people MORE money to sit at home unemployed is the origin for all of..." and there it is. Policy makers created this economic crisis/shortage. Very true in my opinion. People wanted to still work, until they were paid more to do nothing and what do ya know...we got a shortage of workers and therefore supply chain issues. Of course...that is not the entire reason. But this video completely ignores that and goes into minor detail over "not enough ports open for ships, not enough workers to fulfill orders" the economy could have still been moving if people weren't incentivised to stay home. This is evident when you go to your local fast food resturant and see the sign "We are not open during normal hours because no one wants to work for $10/hour when they could get $700/week from unemplyoment"

@noelburke6224

3 жыл бұрын

Bullshit their are only bad teachers not bad students

@karensagal8230

3 жыл бұрын

@@mclovin9151 They could pay people a better minimum wage as they do in some European countries, a livable minimum wage.

Very nice channel, the videos these people share are amongst the best and most well put together. Thank you again wendover team! ❤️💕💓

I can’t believe I remembered this much about JIT manufacturing and the Toyota Production System. I read that book as a teenager more than a decade ago.

The "two ports" of Los Angeles and Long Beach are actually adjacent to one other and effectively operate as a single port complex -- even more of a bottleneck.

@ernststravoblofeld

3 жыл бұрын

It's actually Port of San Pedro, not Port of Los Angeles. People used the name Port of Los Angeles to refer to both Longbeach and San Pedro to simplify letters of credit when boats showed up at the wrong one.

@MoonFairy929

3 жыл бұрын

I was really trying to figure out where Port of LA was… lol. Thanks.

@lrdxgm

3 жыл бұрын

@@ernststravoblofeld If "by people" you also include the city of Los Angeles, then you are correct, but I don't think you meant that. San Pedro is part of LA. Saying the port is not in LA is like saying Wall Street is not in New York, but in Manhattan.

@joshvelazquez8706

3 жыл бұрын

i didnt know they were that close, i live in long beach, and i thought the port of LA was a completely different facility, thanks!

@Saiga12308

3 жыл бұрын

@@lrdxgm he didn't say it's not in LA, he just said that "port of Los Angeles" isn't it's name.

I’m a truck driver I’ve known this for awhile I tell everyone but but until you can’t get your bubble tea it’s not real lol most supply chains are very tight I see it everyday when customers are calling saying their line will shut down if I’m not there

@nanszoo3092

3 жыл бұрын

I used to run logistics and this is SOOOO True. People would take 3 weeks to decide to purchase a piece of large equipment then want it in 3 days across the country. and then complain about the shipping cost

@mememaster147

3 жыл бұрын

It seems similar to what happened to US food production at the start of lockdown. The food was there in the fields and the number of consumers was the same but there was no flexibility in the supply chain to divert food destined for the restaurant industry into retail.

@virutech32

3 жыл бұрын

@@nanszoo3092 what? people who sacrifice long term stability for unsustainable shor-term gains don't plan ahead & expect instant gratification? say it aint so

@Uaarkson

3 жыл бұрын

Every truck driver I know is smart as fuck.

@sarahdee374

3 жыл бұрын

I mean how did we survive without the exact same boba tea that we're used to? spoiled af, aren't we?

Thanks for your work! Explained everything in detail.

Thanks for this video. Been trying to explain this to people but this video does a much better job than I ever could

"shortage of truck drivers in the US..." Yeah, working in that exact industry I can say there are more trucks on the road today than what was there 6 years ago, and the quality of driver and driver's ability has plummeted. I can also tell you that the increase in shipping costs aren't making their way to the driver. It's, as usual, "getting used up somewhere along the way".

@LIZZIE-lizzie

3 жыл бұрын

I comment somewhat same from the East Coast. Truckers transporting goods overload the highways. One friend shook his head and said, "There's so much money to be made in trucking." The East Coast is alive with import exports coming in on cargo ships, trains, and big wheelers.

@matthewsmith9439

3 жыл бұрын

I work for a big name shipping company and we are having finding people to work in general, let alone drive trucks. The company is trying to innovate and offer more incentives to come to work, but it's still not enough right now. I don't remember seeing a shortage of labor like this in the 12 years that I've worked there.

@coastalgaming1594

3 жыл бұрын

@@matthewsmith9439 Biden is paying them to stay home with the extra $300 a week in unemployment payments on top of what you would normally get. Many leaders have pleaded him to stop but he won't. You haven't seen the creepy whispering he did last week? He told you right there what he is intentionally doing, he is forcing business to pay workers more. He is destroying our economy.

@doctorpc4x4

3 жыл бұрын

I think is is called companies maximizing their profits

@hangedman821

3 жыл бұрын

It's all deliberate....is the real answer. The old normal is being dismantled in front of our eyes under the guise of the kung flu. There's a new normal coming.....they keep telling us....it's just no one is listening.

I don't call these videos, I call them "procrastinator logistical support"

@haniminator6938

3 жыл бұрын

Türk 🙀

@TheCaptainMan

3 жыл бұрын

😅🤣😅🤣😅, this is way too accurate

@USSAnimeNCC-

3 жыл бұрын

Nice XD

@rjv_mntn

3 жыл бұрын

I second it

@kugelblitz1557

3 жыл бұрын

@CrazyMiles Being devout is one thing; that's good. But that doesn't mean that you have to push your beliefs on everyone at once. Let them have their beliefs, pushing is never the way to go when you want to change someone's beliefs; better to explain your own in a conversation with a smaller group of people where everyone can express their opinion properly and understand the others without getting too angry.

I work for a company that tried the just in time principal. They called it lean manufacturing. They were the largest employer in the northwestern Pennsylvania region. Almost 2,000 people just on the shop floor. Now, we are down to 80 people. They failed miserably implementing it. You said it perfectly. We mass produced parts that we needed to have in stock to stay afloat. Because they did away with inventory, we went under.

Stunned at the quality of your video essay! Great job!

The Toyota concept is known as “LEAN” in the industry, almost every company I work with is trying to replicate/implement it in their production

@Marinealver

3 жыл бұрын

More with Less becomes Everything with Nothing

@xXxSkyViperxXx

3 жыл бұрын

at college, this is what they taught us too but i never learned it in simple words as sam made it out to be lol

@shauncalton815

3 жыл бұрын

Yup, despite the fact that producing automobiles is nothing like producing Food goods or much else. Basically, every company that operates like this has almost every essential position performing the work of what should be 2 other employees along with their own work. No one in charge knows what they do or how they do it. These companies also typically have way too many high level managers, directors, vice presidents and C-Level employees that don't contribute much. LEAN right? These same companies probably had this toxic leadership element working from home throughout the entire COVID pandemic relying on the "Essential" employees to drive on and earn their bonuses for them. Now everything has to go back to the way things were because "Reasons". It's going to get worse, much worse with the coming inflation as well.

@akuhei032

3 жыл бұрын

@@shauncalton815 Best comment. I agree completely.

@khoichau8316

3 жыл бұрын

And failing miserably in regards to doing it properly

So basically this is all started with Toyota and “just in time”, however, “just in time” was poorly copied and implemented by other companies elsewhere.

@rafaelvazquez7465

3 жыл бұрын

American companies tend to do things just to check the box. So a lot of corporations want to say they do things like Toyota but don't want to actually take the time to teach employees what that actually means (because that would be on the companies dime)

@hamstirrer6882

3 жыл бұрын

It all boils down to prioritising short term gains (profit for shareholders) at the expense of long term efficiency, just like everything else with the state of the world. Eat the rich

@corvus8000

3 жыл бұрын

@@rafaelvazquez7465 So true, my father once worked as a sales manager for a company that made high impact plastic boxes and they insisted he educate himself on lean production and just-in-time systems on his own time, Thing is, the overall logistics of making high impact plastic boxes is pretty straightforward, your ingredients are just the raw plastic you form into the boxes and simple metal hinges and screws for the lids plus all orders are negotiated well in advance and in large quantities so its all a basic production line setup. So it was all a total waste of time, they just wanted to check that box on their project tables and make sure their execs and sales people would be able to sound trendy and authoritative when talking to customers and competitors at industry events.

@shadmanhasan4205

3 жыл бұрын

All I saw in this video was Darwin's Law for natural calamity... and the few companies like Toyota have adapted quickly to the "waves" and just 'surfed' on it... rather than running away or hiding from it... which is naturally Humane, but also *HUMANLY STUPID LONGTERM* 🙁😑🥱

@ryancartiers9500

3 жыл бұрын

the 2nd have of your comment is correct

6:01 Was not expecting to see my hometown in this video. I'm so glad we've all cleaned up so much debris in the past year, it almost looks halfway normal now.

Where I work we try to keep as much inventory as we can get away with. Spare parts for everything and spare parts for the spare parts, and as much consumables as we can fit in our storage, preferably all the time.

I work at a paint store. We are seeing massive shortages of paint because of the winter storm in Texas back in February destroying many of the factories that produce the resins that go into a large percentage of the world’s top coatings. That storm I believe was considered a once in a hundred year event so the power grid and factories were never designed with it in mind. Honestly though a hundred years most definitely should be within the planning horizon of any city or engineer of any large facility. 100 year events are actually pretty common when you realize that no 2 events have any kind of predictable start and end points and that you will have to plan for multiple such events in the construction of any large facility. Snow storms, floods, solar flares, hurricane etc are all dangers to power grids for example and most certainly should be planned for and are likely to be seen much soon than 100 years when all of them are taken into account. Just like mentioned here, major disruption is inevitable and not planning for it can’t be an excuse.

@RobertPrestley

2 жыл бұрын

Yep. A 100-year event just means that there's a 1% chance of the event occurring in any one year. And given the level of impact, I think even a 1% chance is worth preparing for. Not to mention that in a rapidly changing climate, those 100 year events are going to happen with shorter return frequencies.

@bigjohn6405

2 жыл бұрын

but seems no one wants to pay to build infrastructure for those events, most people want a low electric bll

@Vmaxfodder

2 жыл бұрын

The iodine comes from middle of Oklahoma! 80% of production! It not in Texas!

@alw2839

2 жыл бұрын

@@Vmaxfodder Texas gotta maje it about themselves.

@Luipaard005

2 жыл бұрын

Governor Abbott signed a law to winterize our power grid and the power companies screamed and cried and wailed and threw a lot of tantrums, and our power grid is still not winterized. And the Governor and Lt. Governor are not willing to start arresting these screaming infants that pass themselves off as CEOs to force them to obey the law.

This is just so cool. I just started working at a Toyota Plant and everything mentioned on this video is thoroughly taught to every team member and reflected throughout the plant with logos and billboards. Keep pumping quality videos Wendover!

@2WhiteAndNerdy

3 жыл бұрын

I worked at a Toyota plant too and did a lot of cross campus JIT deliveries. Their level of efficiency is just mind boggling. Hectic as hell for us assembly workers but darn impressive to witness from a business perspective.

@76MUTiger

3 жыл бұрын

Awesome feedback! The workable system (JIT) is known and learnable. Many people know it. US manufacturing leaders who don't understand this should get their MBA tuition reimbursed and then they should get fired for failing to learn what was so imminently learnable. They exposed their organizations to devastating risk through their own negligence.

@2WhiteAndNerdy

3 жыл бұрын

@@76MUTiger Nailed it. Beautifully said.

I work at a place that sells boats and boat parts, from a small computer chip to the boat itself, and we're seeing a lot of shortages. Engines and special parts mostly. Some orders have been in our backlog since August and we're still waiting on 1 or 2 parts to complete it, but it just won't arrive! It's been so bad that even my daily work forces me to be lazy and do little lest I have nothing else to do at the end of the day, so yeah- I feel the issues.

Outside of the Toyota commercial, it's very clear explanation of what's going on and the cascading events. Many thanks.

As a trucker I just wanted to say there's no shortage of truck drivers, only a shortage of drivers willing to work for garbage pay. We're tired of working for the equivalent of less than federal min wage so a lot are quitting but I assure you that there are plenty of drivers still driving.

@thomasbrown7728

3 жыл бұрын

YEP,, I quit 2007, worst job I ever had.

@phox1515

3 жыл бұрын

@@thomasbrown7728 I have done worse. I once worked for one of those companies that calls you to do (mostly political) surveys. I have also been a movie theater usher (wasn't a bad job but not something I'd do again), numerous call center customer service jobs. Trucking has been my best fit for pay and job enjoyment but we're definitely way underpaid considering the time away from home and actual hours worked (big brother only knows about the 70 clock, but not what we do off duty) plus the stress and horrible health conditions (sitting all day, very little time to exercise, etc).

@maritimemisfits3360

3 жыл бұрын

US drivers get a shitty stick, especially long haul.

@bluemm2852

3 жыл бұрын

This is why you need a secure southern border.

@MichaelGGarry

3 жыл бұрын

@@bluemm2852 You know that most illegal immigration into the USA doesn't actually come through the southern border right? That you are just repeating nonsense that has long been debunked? Also that when the USA was at its strongest and paying decent wages the border was wide open and people crossed all the time. Its almost like you are aiming at the wrong enemy here.....

"It's a philosophy, not an equation" is such a great way to also get to the meat of the difference between Japanese and American businesses

@mohnnadmercedes8246

3 жыл бұрын

All US business men want any profit in the next 24h ,, while wise business men thinking about long term,, in general US people has very short term memory

@MudakTheMultiplier

3 жыл бұрын

Having worked in an American based japanese country let me tell you there is *so* much more different between our work philosophys it's crazy.

@lynx2

3 жыл бұрын

@@MudakTheMultiplier Would you care to elaborate? I find this very interesting

@candylove49

3 жыл бұрын

@@lynx2 me too

@Naveen-iu7ej

3 жыл бұрын

.

Dude who are you and how do you have the discipline to aggregate and then clearly present so much knowledge? I love your videos and have learned so much. Your topics are always on point. Thank you.

This was amazing!!!!! Thanks for the opinions facts and knowledge!

I can attest to the shortage of truck drivers. This has been a problem for over 5 years now. My friend's family runs a trucking business. The business is one of the most poorly-run businesses I have ever seen. They were on the brink of going out of business when the truck driver shortage happened. Now, even large companies such as Target and Gap are willing to put up with their tardiness and crap that would shut down an adequately-run business just to get their products shipped. This business once "forgot" a shipment for Forever 21 and missed the sale for Black Friday... Also, Walmart has been ramping up hiring truck drivers for awhile now. They have these semi-annual hiring sessions in the large parking lot in my city where they test you right then and there. Starting salary is over $90k.

@Noobalator

2 жыл бұрын

They still hold pretty strong on their years required, but they're one of the best trucking companies out there.

"Flawed implementation of the system." This is my life. Every day. Toyota's culture allows for continuous improvement over time, and allows for employee input on those improvements. This is a very flexible system called Kaizen. Working for a company that implemented Kaizen effectively and moving on to one that doesn't at all ... is very, very frustrating.

@solstice2318

2 жыл бұрын

That wasn't very kaizen thinking, moving to another company. 😜

@jbazinga2385

2 жыл бұрын

No kidding...I work at Intel where some of the factories I've worked in have tried to adopt some of the principles of Kaizen. It doesn't work if you adopt only some - you have to go all in or you end up just getting frustrated that your suggestions are ignored.

@cupofgreentea

2 жыл бұрын

Same goes with the company im currently working for. Coworkers have been discussing the kaizen principle but management doesnt want to listen..

@GeneralChangOfDanang

2 жыл бұрын

My employer only implemented the just in time aspect of lean. Without any of the other practices, we are constantly short on parts. Even when there isn't a pandemic.

@omega91006

2 жыл бұрын

@@GeneralChangOfDanang Then just blame it on the buyer and planner, right? That's why there are always job openings on them.

5:10, my dads a truck driver and based on the stories of how his company treats its workers I’m not surprised there aren’t enough people wanting to be truck drivers

@Max0r847

2 жыл бұрын

Welcome to capitalism :D

Thank you this was very helpful and informative 👍👍

"You can't blame the fact that your house is sinking on the fact that you built it on the ocean" Sam, The nation of the Maldives would like a word...

@sil8127

3 жыл бұрын

I read this comment at the exact time he said it in the video. freaky

@ZimbolicalMayhem

3 жыл бұрын

That's why we keep building it upwards until a tower of Babel situation happens

@shadowkillz9606

3 жыл бұрын

Maldives: "You're right, we are sinking, F in the chat bois"

@Chizypuff

3 жыл бұрын

@@sil8127 I read your comment right after hearing the previous comment in the video

@user-nh5xn8yf1b

3 жыл бұрын

That reminds me of Wendover’s video on Marshall Islands

The logistics channel is here to tell me about logistics problems. Perfection on a Tuesday

@halweilbrenner9926

3 жыл бұрын

Logistically logically liking LOL

@filthybeava4367

3 жыл бұрын

@@halweilbrenner9926 b

@sanbruno3606

2 жыл бұрын

PEACE BONANZA ABUNDANCE FREE THINKING

I used to work at a Toyota supplier (not Toyota but a manufacturer who used their methods) in the US and they determined they would never be fully automated because the cost of machine maintenance would be higher than just paying people. They had people pushing the factory buttons, checking for defects, and doing rework, but they had machines doing the assembly.

14:18 - This thesis sentence is fantastic! The supporting argument begins at 13:37. Toyota's imitators "ignored huge swaths of the Toyota way, and created a system that's less effective and less resilient but can impress shareholders through short-term savings. How Toyota has effectively implemented the system fills books, but many are just reading the covers."

@MdlAgedHeadbanger

2 жыл бұрын

This sums up so many issues in corporate America. Companies are not fully embracing the whole of a philosophy or method. I used to work for a large company that was trying to improve it's culture and move away from old work place design and work habits. They looked to Google and cherry picked what they liked and applied it to what the existing method. It didn't work. The entire system was thrown into chaos and the enhanced teamwork they anticipated fizzled out almost immediately.

I live near Long Beach and can verify that to this day there are 50+ ships sitting in the water just off the coast at all times. They're just waiting in a big queue.

@inter5123

3 жыл бұрын

Maybe we should begin the opening of new ports. It seems that we are bottle necking imports but as the video pointed out. That is only one part of the problem.

@303TAG303

3 жыл бұрын

@@welshie2007 too bad they don't have job guarantees or accessible training

@bruce-le-smith

3 жыл бұрын

meanwhile Bezos, Branson, Musk, etc. are wasting time on a personal space race instead of collaboratively building temporary docks, a system to redistribute shipping containers, etc. like they would've in WWII

@nikkischlep8288

2 жыл бұрын

Wow! Maybe instead of silly political barking, media could discuss actual current events.

@maplenook

2 жыл бұрын

Why

I work in retail and see a lot of shortages mainly due to managerial incompetance.

@samarpaudyal6654

3 жыл бұрын

That’s true. And you can’t put some orders according to your choice. They will send what they want to.

@theinitiate110

3 жыл бұрын

Yup, I work for a small company that manufactures most of its own items. We constantly have issues with inventory because the production manager doesn't have the skills to analyze production data to keep shortages from happening. What's most frustrating is she refuses to educate herself on new systems/ways of doing things that could help eliminate shortages.

@brandonholmes8485

3 жыл бұрын

@toijg avnnr but it is the shortages that hurt the customers in the end. The government needs to mandate a level of inventory of key supply component inventory at all times for issues like this.

@mickncdower2104

3 жыл бұрын

Best answer here

@clydesmith8285

3 жыл бұрын

Exactly!

A very good in-depth explanation of the many complex intertwined dependencies in the supply chain system.

This is still a useful video after a year... It'd be cool to have an update with new specific examples from the last year

Just in time manufacturing sounds pretty much like the corporate equivalent of having your rent payment due on the same day you get paid, with absolutely zero money in your bank account. Works fine…until your paycheck is late/short.

@InventorZahran

3 жыл бұрын

And then when your house's owner doesn't get their rent check, they are now without income for the month...

@triadwarfare

3 жыл бұрын

Strange. My paycheck is never late. Any employer that delays paychecks is not a reputable one. However, there are times that I can't withdraw money thanks to ATM issues.

@rkan2

3 жыл бұрын

Same way the whole economy works.. No economic growth / no-one is taking out loans = crash.

@thelordjesus1136

3 жыл бұрын

#JESUS FIRSTt Jesus Is Love And The Way And Truth And Life And The Only Way To Be Saved Through The Creator Of All Things To Jesus Be The Glory

@hlltwin

3 жыл бұрын

Actually, that's the interpretation that most companies had, but if you listen to the video, that's not how it's supposed to work. It's not a complete lack of inventory (or in the case of your example: cash in the bank), it's a lack of excess inventory - unneeded inventory that just takes up space. So instead of living paycheck to paycheck with an otherwise empty bank account, you have a cushion of money (maybe enough to pay your rent for one month, maybe more), just in case you have something go wrong and your paycheck doesn't cover your rent one month.

There is no shortage of truck drivers. Never was ...there is a shortage of truck drivers that work for 2000$ a month

@aru-YT

3 жыл бұрын

My dad is a truck driver and gets $24,000-fluctuating a week including businesses, hauls lumber & palettes and more, he's a really good businessman. Needless to say, sitting on your ass for countless hours driving is tiring, even truck drivers working for the Union/Film industry got $3,000 a week. Pretty sure this applies to most jobs; people shouldn't be paid so little, especially because inflation over the years has already taken place and the wage barely goes up. Used to work in the Union until film industry in florida died and Scott doesn’t want to sign the bill.

@nolearystream

3 жыл бұрын

What are you talking about? Who wouldn't want to do long, tiring hours for a wage that can't even pay their rent??? Choosy beggars if you ask me.

@waynes9275

3 жыл бұрын

slave wages for most in trucking. I am happy with my pay by the HR driving job. never go back to pay by the mile.

@SovereignTroll

3 жыл бұрын

Transportation will migrate to AI with zero accidents, ultimate efficiency and no more texting, stupid aggression and gridlock.

@oscarcazarez2227

3 жыл бұрын

This is how capitalism works, it sets a value on your time, etc. Communism is ran by the workers for the actual people not the 1%

This is why I will always fight Lean Six Sigma purists. It makes me so mad when they come in obsessed with efficiency (cutting inventory and people) and also try and force six sigma methodologies on regular employees who have neither the time nor support for it. Granted there are some good tools in there, but you have to make a customized system for your company and implement it from the top down.

2:20 Lol. I KNEW that I knew where Boba Guys was. Then I realized why: I used to go to the vape shop right next to it!

"How the assassination of Arch Duke Ferdinand led to the shortages of 2020 and 2021"

@AluminumCloud74

3 жыл бұрын

🙌🏻🤷🏼‍♀️🤔😳

@Flakey86

3 жыл бұрын

Underrated comment

@stuart6478

3 жыл бұрын

exactly. still living in the shadow of ww1/2

@sugarpacketchad

3 жыл бұрын

@@stuart6478 Is WW 1/2 WW .5 in decimal form???

@robin2012ism

3 жыл бұрын

@@sugarpacketchad no. 1&2

In the words of the Division trailer: “System is built on a global supply chain, that gets things where there needed ‘just in time’....created a house of cards. Remove just one and everything falls apart”

@terrydaktyllus1320

3 жыл бұрын

Erm, I'm not sure how to break this to you but "The Division", right? It's just a computer game, it has nothing to do with real life.

@legalfictionnaturalfact3969

3 жыл бұрын

Terry, ever heard the phrase art imitates life? You sound like a douche. LOL

@unknownzewolf7405

3 жыл бұрын

@@terrydaktyllus1320 I know, but I meant to like reference how they talked about the supply chain in that game. I’m not referring to the actual pandemic in the division

@KB-ke3fi

3 жыл бұрын

Mainly it was the arctic freeze that happened in Texas for a week. It affected everything.

@deedewald1707

3 жыл бұрын

As demand increased for parts made in Japan and China too !

Not mentioned is taxation of inventories. Inventory is considered an asset.

I work with imports at a large company, and this whole situation has made my work life a living hell.

It sounds like WORKERS are a valuable component to the existence of EVERYTHING. Maybe employers should schedule workers to work and actually pay them as if the worker matters.

@mercdragons

2 жыл бұрын

Many friend that can't keep a job for 3 months because he is lazy is a truck driver. I make $28.65 an hour and been at my job 8 years. In that same time every job he moved to paid higher. Truck drivers get paid a very good wage for getting to sit all day in a AC vehicle and drive.

@margaretjohnson6259

2 жыл бұрын

but workers are SUPPOSED to be exploited and used up in a capitalistic system. of course, a lot of people have realized in the last year that WE ARE BEING EXPLOITED. they are not going back to work for as long as they can hold out. if no one wants to work for you maybe you aren't paying enough. (not YOU, universal you).

@mikolowiskamikolowiska4993

2 жыл бұрын

@@margaretjohnson6259 wait till the govt runs out of money

@mikerada2773

2 жыл бұрын

@@margaretjohnson6259 or maybe they just don’t want to work. There are plenty of places that pay well and no one was even putting in applications.

@margaretjohnson6259

2 жыл бұрын

@@mikerada2773 the jobs may be crap. most people don't want to make a career of working at dollar tree.

It just highlights how these giant Corporations have so taken for granted their 3rd tier suppliers with JIT delivery that was never truly pressure tested for any major disruptions. Now these quarterly results, ROS-driven millionaires have $1,000 bills waiting on $0.10 cent parts sourced halfway across the globe with +12-18 month critical component lead times. Fantastic and costly debacle.

@Tuppoo94

3 жыл бұрын

In the future, many books will be written about the failures that occurred during this pandemic.

@nc4tn

3 жыл бұрын

The chip suppliers today are telling Ford, GM, and C-F to go eff themselves.

@thelordjesus1136

3 жыл бұрын

#JESUS FIRSTt Jesus Is Love And The Way And Truth And Life And The Only Way To Be Saved Through The Creator Of All Things To Jesus Be The Glory

@cattysplat

3 жыл бұрын

@@nc4tn Need more silicon to mine Dogecoin.

Never expected to see video clips of my hometown in Lake Charles, Louisiana, USA; we’ve had some of the roughest years in ‘20 and ‘21. Please take time to look up our historic devastating past few years.

Such a good explanation! Humans almost always prefer a quick, easy, & over-simplified solution; as opposed to a nuanced & more complicated one that better fits reality.

@taiwandxt6493

Жыл бұрын

Hell, humans love to live by quick, easy, and oversimplified concepts generally as opposed to more nuanced ones. Much of the shit that is taught to us as "reality" in school is often far more nuanced and complicated.

"We will have to offer a smaller quantity of tapioca pearls in each drink." Oh god. We... we deserve this, don't we. :(

@michaelchildish

3 жыл бұрын

Certainly puts the worldwide building sand shortage in perspective! Won't somebody think of the tapioca? #FreeTapioca

@rob6365

3 жыл бұрын

Wtf is wrong with u people 🤣

@triadwarfare

3 жыл бұрын

@@michaelchildish Tapioca is pretty cheap here in the Philippines, but all our video cards are scalped straight from the distributor.

@j5545

3 жыл бұрын

At least now u have no mean tweets

@cactusjack1943

3 жыл бұрын

At least there are plenty of flys for the ointment.

Toyota saving up their chips reminds me of Ford getting a low-interest loan a year before the 2008 financial crisis. They had cash on hand, while all their competitors went bankrupt.

@ginobenedetto4943

3 жыл бұрын

@Judith Chambers they took a handout from the government under the guise of making more green cars. They were bailed out just like every other automotive company, they were just scumbags and didn’t own their L. Matter of fact, none of those automakers didn’t take their L. The tax payers bailed them out and they said screw you and moved the majority of their production out of the US.

@thelordjesus1136

3 жыл бұрын

#JESUS FIRSTt Jesus Is Love And The Way And Truth And Life And The Only Way To Be Saved Through The Creator Of All Things To Jesus Be The Glory

Excellent video - very well done.

What a fantastic video. Thank you!

Now I'm reminded of how absurd it often is that large companies get bailouts whilst smaller businesses are left by the wayside

@kylehill3643

3 жыл бұрын

Bailouts are technically illegal and nobody should be given a free ride!

@MisterEC1

3 жыл бұрын

The bailout money goes to share buybacks that reward company executives.

@dbe_manny

3 жыл бұрын

Cruise lines when taxes are due: 🇵🇦🇳🇴🇨🇱 Cruise lines when the US is giving out billions in bailouts: 🇺🇲🇺🇲🇺🇲

@kylehill3643

3 жыл бұрын

@@MisterEC1 Bailouts then are companies paying themselves more money? What the bloody hell happened to good old fashion capitalism where you lived or fell on your own success or failure?

@lynnv8501

3 жыл бұрын

@@kylehill3643 I'm no economist, but it seems like government is in bed with corporations and banks. The good Ole boys club? Freemasonry? Crony Capitalism?

Our "just in time" inventory management in the age of global pandemics has now been proven to be our Achilles' heel.

@sachiconza9406

3 жыл бұрын

We need an automatic item sorter

@cheaterman49

3 жыл бұрын

@@sachiconza9406 We need a global, AI-driven resource-based economy. I for one welcome our AI overlords. :-)

@catalindeluxus8545

3 жыл бұрын

No, they didn't implement the system at all, they just got rid of all stock and called it "just in time" to please short-term stock owners.

@mr7wi

3 жыл бұрын

@@catalindeluxus8545 got it in one. They just pushed the costs of inventory storage to their suppliers.

@MarkGraban

3 жыл бұрын

It was never "just in time" when a company is shipping goods from China to North America. That's a complete bastardization of the Toyota concept, as this video states so clearly.

Great job on this video!

I built JIT Supply Chain Systems at Toyota, and your analysis of the global problem and Toyota’s response is exactly correct. Toyota never runs lean where it increases risk of shortage. Thank you for explaining so well in this video.

The “proliferation of scarcity” might be more accurately worded as “perceived scarcity”.... because they aren’t scarce... just mismanaged in many areas of supply chain.

@Magicbean2727

3 жыл бұрын

It's a bit of both imo.

@jmackinjersey1

3 жыл бұрын

If the products are not on the shelves, then it is reality, and scarcity.

@buckwheat7424

3 жыл бұрын

we're gonna find out pretty soon how your hypothesis stands out. water, even though the world is covered in it, is on the verge a change in matter, it's gonna snowball so fast, it's already started, but guess what? no matter how rich anyone may be, when a specific time clicks past, our role will vanish as the rest of things do. extinction. what is pretty cool is we reached the end of an age, in knowledge (that wont help much,) but it's been pretty cool, compared to some that lived even 100 yrs ago. antibiotics and health care are going to round us all up at once, instead of 1/2 populations die offs that would have maybe allowed this train some more track to roll on.

@zemi2750

3 жыл бұрын

@@buckwheat7424 If profound scientific breakthroughs/advances buy us/the planet some time, then there's hope until the next breaktrough and so forth and if we make it just in time for Transhumanism or should I say: Transcendance. Then we averted catastrophy... it's a long shot, but duable in theory. This generation doesn't give us much hope, but there's always that high IQ person (a Biological certainty) that will lead ahead and leap us forwards, even though surrounded by a mass of ignorance as it always have been; a few buying us time. When it comes to water, well that jury still out since we moved a bit on desalination process. Overpopulation is quite scary indeed, but we all eventually die. Numbers are in our favor now since this generation doesn't want kids or can't afford them (for us in the west), but of course that's another topic entirely.

@homermtz

3 жыл бұрын

@Sam Ling indeed and im not taking the vaccine

I love hearing root cause, just in time, TPS, Toyota, waste, valuing people, etc. as a proud Toyota employee

@kilowhiskey7973

3 жыл бұрын

TMMK baby!

@infrageo

3 жыл бұрын

Toyota is always my go-to example of companies that understand logistics

@TrydeoVideo

3 жыл бұрын

Proud owner of a 91' Toyota MR2

@nolano6072

3 жыл бұрын

@@kilowhiskey7973 ahh! Not too far away, I work at TMHNA

18:48 i love the fact that one of these url's links is working :D

“And online shopping was exploding” _Shows image of someone buying a red onion_ (3:19) No idea why that’s so funny to me, maybe just because I don’t typically think of red onions when I think of o line commerce, but whatever the case, I find it most funny indeed

I worked in mechanical engineering, and I called this exact issue years ago. While in college we had professors explaining just-in-time principles and I pointed out how a single hiccup in the supply chain would cascade, and how it's passing the buck down the line. Run out of stock? blame your supplier for not delivering instead of your short sight in not keeping stock on hand.

@richlaw5136

3 жыл бұрын

Maybe they should have been professing mechanical engineering instead 🤷‍♂️

@weekendatbernies2265

3 жыл бұрын

JIT: The Planned Hiccup. Nothing happens Organically

@stephenwest2

2 жыл бұрын

The issue is that planning for hiccups can cost money and for most companies a risk worth saving money over due to events messing up the supply chains being extremely rare (i.e. a once in a lifetime pandemic like Covid 19). Companies really will try to cut every corner to save money.

Fallout currency: Bottle Caps Current society currency : Heinz ketchup packets

@crazydoc0812

3 жыл бұрын

How many toilet paper rolls for one ketchup packet?

@nexusSix_237

3 жыл бұрын

Haha...I can't believe people can't just do without ketchup..what a joke

@brokkrep

3 жыл бұрын

@@nexusSix_237 That went completely over my German head. What's up in the US again?

@Ar_Tank

3 жыл бұрын

I'm still banking on bottlecaps. Hopefully they will have some value in the apocalypse

@Ar_Tank

3 жыл бұрын

@@brokkrep I think it has something to do with panic buying. It appears Americans need to have ketchup with everything and is equal in value to toilet paper

At "just in time" manufacturing" it can be extremely difficult to gauge economics for dairy. That's concept on the backend of certain product, amplifies this too!

“Realizing what is truly excess.” There is great wisdom in these words.