JIT improves an organization's competitiveness in the marketplace through waste reduction, uninterrupted workflow, quality control, reduced storage, and long-term supplier relations. However, there are some risks associated with the above mentioned technique like material shortages, local market environment changes limiting resources and failure of suppliers to keep up to their commitments.
Could you please discuss the above mentioned risks and propose strategies to overcome these obstacles in order to make JIT technique beneficial for a manufacturing firm.
In reference to developing countries like nigeria.
Please base your answer on academic literature and proper references