June 02, 2021 9:00 AMThe tumultuous events of the past year have challenged the merits of paring inventories. : (NYTIMES) In the story of how the modern world was constructed, Toyota stands out as the mastermind of a monumental advance in industrial efficiency. The Japanese automaker pioneered so-called Just In Time manufacturing, in which parts are delivered to factories right as they are required, minimising the need to stockpile them. Over the past half-century, this approach has captivated global business in industries far beyond autos.