Just In Case (JIC) - GCSE Business Definition

Just In Case (JIC) is a stock management strategy where businesses maintain larger inventories of raw materials and finished goods to safeguard against unexpected surges in demand or supply chain disruptions. Unlike the Just In Time (JIT) approach, which keeps minimal inventory to reduce costs, JIC ensures that a business can continue production and meet customer needs even if there are supply chain delays. Storage costs are higher, but it reduces the risk of stockouts and production halts, providing a safety net for uncertainty. It is particularly useful in industries or situations where demand is unpredictable or where supply chains are prone to disruptions.