resolution
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Post by resolution on Jun 1, 2021 23:30:11 GMT -5
Anyone remember the thread where Phil was telling is we need to practice JIT inventory for our personal households because stocking up required too much cash that could be better used for investing? I used JIT inventory at home because my house was too small to store anything. We ended up buying a larger house mid-pandemic to get ourselves more breathing room, and now I have a huge pandemic stockpile I am trying to use up.
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Deleted
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Post by Deleted on Jun 2, 2021 7:14:20 GMT -5
Anyone remember the thread where Phil was telling is we need to practice JIT inventory for our personal households because stocking up required too much cash that could be better used for investing? Years ago the financial writer Andrew Tobias said the opposite- buy in bulk and store it at home because it's cheaper than buying smaller sizes. That's assuming there's no waste due to things spoiling before you can use them. I've also read that people may go through things such as paper towels more quickly when they perceive that they have a plentiful supply, which can also lead to waste. I hope that COVID has caused companies to critically examine their supply chain for crucial dependencies, e.g., everything comes from China, everything goes through the Suez Canal, their beef comes from a single corporate entity, and address the risks if something fails. And now I'm waiting to get my car repaired till they can get the replacement of the quarter-panel that some SOB who did not identify himself/herself grazed in the middle of the night when it was parked in the street outside DS' house. It may take awhile- thank heaven the car is drivable or the insurer would be on the hook for a rental.
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thyme4change
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Post by thyme4change on Jun 2, 2021 8:30:27 GMT -5
Anyone remember the thread where Phil was telling is we need to practice JIT inventory for our personal households because stocking up required too much cash that could be better used for investing? I am a JIT at home type. I have found for most things I can use a different brand, pay more or wait. Even during the great TP shortage of 2020, I was able to find a 4 pack, which held me a week and then there was more stock on the shelves.
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wvugurl26
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Post by wvugurl26 on Jun 2, 2021 8:40:20 GMT -5
I don't think we have a huge stock pile. I do like to keep a backup of most things. Some things are bought at particular stores that I don't go to frequently. I also don't want to have to run out because I used the last of the deodorant, shampoo, detergent, etc. Pre pandemic I didn't have time for that. My days were scheduled to the max.
I also have a crap ton of allergies so switching brands is not a possibility for many things.
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thyme4change
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Post by thyme4change on Jun 2, 2021 8:41:33 GMT -5
"Just in Time" kind of makes sense when parts/components change rapidly. I would assume a manufacturer wouldn't want to stock pile something that may become obsolete before the parts are all used up. It's a balancing act between how many will we produce against how many do we think we will sell. Maybe it is the luck of my company, but I don't find where components spontaneously change without warning. There are problems, but as a normal course of business, we get plenty of warning if a supplier no longer wants to manufacture the piece we buy. Plus there are dozens of parts in each SKU, so which ones do you stockpile? Bottles, caps, labels, shippers, cartons, wraps, dozens of raw materials including preservatives - and that is one SKU. Even if we make the exact same product in a different size, we need a whole 'nother set of bottles, caps, labels, shippers and wraps. Our relationships with suppliers is not the same as just going to the store and buying what is available. They manufacture for us, at our specification. Maybe it is different outside the consumer packaged goods market. Everything in CPG is very specific for branding purposes. Not that there isn't some standardization, but it isn't random.
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buystoys
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Post by buystoys on Jun 2, 2021 9:03:49 GMT -5
For one job, I had to forecast postal scale updates. For the non-digital scales, the metal piece would be stamped in China and then flown to the US. We had to be accurate or we'd run short or have way too many left in inventory. It was a one shot deal. I think we had 10 scales that needed plates made every time the Post Office increased rates. Unfortunately, they'd always wait until the last minute to announce the new rate, so we always had to push for production and fly everything in. It sucked. Big time. It was stressful every single year.
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Tiny
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Post by Tiny on Jun 2, 2021 9:26:08 GMT -5
Anyone remember the thread where Phil was telling is we need to practice JIT inventory for our personal households because stocking up required too much cash that could be better used for investing? I used a kind of "modified" JIT back in the day when I was trying to save money. I wanted to "run out" of something when that "something" was on sale. I was trying to cut back the amount of "full retail price" things I bought and impulse spending while working on shopping from a list. It worked rather well... I did spend less money and discovered "shopping" was an overall time suck (when I didn't have to shop every week). I had more time for other things. My "modified" form of JIP was to have enough of a product to accomplish one of two things: To make it to or past the next sale cycle (back then it was 1 month to 6 weeks) OR to stock up at a sale to go several months so I would NOT have to make a special trip to that particular store again. That said, I would not want to go back to the I have to go to 2 or 3 stores every week to get what I'm running out of... in an attempt to get the best price. Sure I could just go to one store - get it all but I'd be paying top dollar for some of the stuff. ADDED The current lack of sales AND the over all increase in prices is making the "weekly run" to one store and buying anything and everything I need from it - more attractive. I'm not saving much using my old system anymore.
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billisonboard
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Post by billisonboard on Jun 2, 2021 10:07:13 GMT -5
Wife works in a grocery store. Over Memorial Day weekend they offered double the usual employee discount. Engaged in strategic stocking up coupling that with sale ad items. Saving was 48%.
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tallguy
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Post by tallguy on Jun 2, 2021 12:32:05 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%.
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haapai
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Post by haapai on Jun 2, 2021 14:12:18 GMT -5
Be nicer to bill. His wife works in a supermarket and probably knows what never goes on sale or has a coupon. She probably waited until double-employee-discount-days to buy some of that stuff. "Only" getting a 10-20% discount on that stuff could really throw of her percentage saved. She still did well.
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Deleted
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Post by Deleted on Jun 2, 2021 14:14:23 GMT -5
I don't think we have a huge stock pile. I do like to keep a backup of most things. Some things are bought at particular stores that I don't go to frequently. I also don't want to have to run out because I used the last of the deodorant, shampoo, detergent, etc. Pre pandemic I didn't have time for that. My days were scheduled to the max. I also have a crap ton of allergies so switching brands is not a possibility for many things. I’ve been like that for as long as I can remember, I hate to be ready to do something and have to go to the store because I’m out of something I need. I’m even like that with keeping gas in my car. When I start getting close to 1/4 tank, it’s time to get gas. I prefer to get gas when it’s convenient, than wait until I’m close to E and really need some. That will probably be the time I’m in a hurry, or stuck in traffic somewhere. If something I regularly use is on sale, I usually get at least 2. Sometimes more, if it’s a really good sale, depending on what it is. I don’t like shopping, so it works for me that sometimes I can go 2 or 3 weeks without having to go to a store, except maybe for fresh food. I kind of keep a mental inventory of what’s on hand. Except food, I can’t keep track of that as well as I used to since I’m not the only person that cooks now. I’ve been saying all week that I needed to buy paper towels because we only had 1 roll left. Now that roll is in use and I still haven’t been to the store. It’s bugging me because I know I’m going to be irritated if we actually run out lol. Normally, needing more paper towels means going to the garage to get a new package. Ooops.
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billisonboard
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Post by billisonboard on Jun 2, 2021 14:18:33 GMT -5
Be nicer to bill. His wife works in a supermarket and probably knows what never goes on sale or has a coupon. She probably waited until double-employee-discount-days to buy some of that stuff. "Only" getting a 10-20% discount on that stuff could really throw of her percentage saved. She still did well.
She? I do most of the grocery shopping. We are talking small town where most shoppers know she works there and demands for assistance are made of her even when not wearing her work outfit. I work to minimize her exposure.
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billisonboard
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Post by billisonboard on Jun 2, 2021 14:25:03 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. To get to a second grocery store for me is twenty miles. That town does have 4.
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TheOtherMe
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Post by TheOtherMe on Jun 2, 2021 14:27:03 GMT -5
My dad lived by the JIT creed. I would try to look at his toilet paper stock every week. He would be on his last roll and say that it would last at least a week. Times I forgot to look, he would be down to the last sheet. Had to make phone calls to either me or my sister to get more.
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tallguy
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Post by tallguy on Jun 2, 2021 15:07:26 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. To get to a second grocery store for me is twenty miles. That town does have 4. Yeah, I don't think I could ever be a rural or even a small-town guy. Admittedly, I don't utilize all the advantages of being in a more urban area, but I am way too much a creature of convenience to not have easily available options close by. Way too much work otherwise....
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billisonboard
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Post by billisonboard on Jun 2, 2021 15:18:12 GMT -5
To get to a second grocery store for me is twenty miles. That town does have 4. Yeah, I don't think I could ever be a rural or even a small-town guy. Admittedly, I don't utilize all the advantages of being in a more urban area, but I am way too much a creature of convenience to not have easily available options close by. Way too much work otherwise.... I was living in Marysville and dating a teacher from there when I got my first rural job. I moved but we continued to date. When we got married and she moved, she struggled with not being able to run to the store and get a new pair of pantyhose in the morning if hers ran when she was putting them on. She did end up adjusting.
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tallguy
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Post by tallguy on Jun 2, 2021 15:56:28 GMT -5
Yeah, I don't think I could ever be a rural or even a small-town guy. Admittedly, I don't utilize all the advantages of being in a more urban area, but I am way too much a creature of convenience to not have easily available options close by. Way too much work otherwise.... I was living in Marysville and dating a teacher from there when I got my first rural job. I moved but we continued to date. When we got married and she moved, she struggled with not being able to run to the store and get a new pair of pantyhose in the morning if hers ran when she was putting them on. She did end up adjusting. Did she lay down the law on you? "Yes, I'll marry you, and yes, I'll move, but there ain't no way in hell I'm doing JIT inventory on stuff I need! I better have some extra storage space in the house"
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Deleted
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Post by Deleted on Jun 2, 2021 16:10:01 GMT -5
I keep one of everything we use regularly in back stock, except perishable produce.
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Lizard Queen
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Post by Lizard Queen on Jun 2, 2021 16:38:40 GMT -5
We've got 3 grocery stores within a 1 mile radius, and used to stop at the store nearly every day. We got away from that habit, and now I have to drag myself out. We aren't stocking up any more, but have consolidated trips quite a bit. The stockpiles of food last summer were annoying, but we do like to have plenty of paper products on hand.
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Opti
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Post by Opti on Jun 2, 2021 17:13:09 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. To get to a second grocery store for me is twenty miles. That town does have 4. I would not like that. I've curtailed my shopping due to my car, but I can stop by one grocery store on the way home and if I needed to I could walk to one that specializes in a Spanish speaking clientele. Some things are reasonably priced there but many are not. So right now its mostly one grocery store (two locations), Walmart, and occasionally Whole Foods which is also on my way home. And a couple others. Sometimes when I am willing to drive at least 6 miles one way I have two I like to visit at least once a month.
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tskeeter
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Post by tskeeter on Jun 2, 2021 18:01:27 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. Trade secret - major grocery manufacturers offer the same promotional discounts to all of the grocers in a given geographic area at the same time. If a product is on sale at store X this week, it will most likely be on sale at store Y in the next week or two. No need to chase from store to store to get the sale price. It’ll be on sale at the store closest to you soon.
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giramomma
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Post by giramomma on Jun 2, 2021 18:58:12 GMT -5
And now I'm waiting to get my car repaired till they can get the replacement of the quarter-panel that some SOB who did not identify himself/herself grazed in the middle of the night when it was parked in the street outside DS' house. It may take awhile- thank heaven the car is drivable or the insurer would be on the hook for a rental. That blows. My last car was hit a couple of times in a parking lot at work (same spot). No one fessed up to it. Thankfully, it wasn't more than a dent that was a couple of inches. I never bothered to get it fixed because it was small.
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giramomma
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Post by giramomma on Jun 2, 2021 19:06:25 GMT -5
I don't think we have a huge stock pile. I do like to keep a backup of most things. Some things are bought at particular stores that I don't go to frequently. I also don't want to have to run out because I used the last of the deodorant, shampoo, detergent, etc. Pre pandemic I didn't have time for that. My days were scheduled to the max. I also have a crap ton of allergies so switching brands is not a possibility for many things. We operate like this as well. With the smaller kid crowd, i also kept a few shirts, shoes, and a pair of bottoms the next size up incase there was a growth spurt. My older two have stabilized with growing patterns. Plus, with a preschooler at home and my work schedule, running out and getting things may not always be practical..in terms of the ages of the kids left at home to mind said three year old.
But, I suppose, if DH didn't buy our costco TP, ahead of time...$16.00 lump sum @ 11%/ann. for 30 years: $366.28. I'm not sure what that would get me when I'm 75. Maybe a couple of dinners out or one month of utilities. Hardly earth shattering.
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Opti
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Post by Opti on Jun 2, 2021 19:13:49 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. Trade secret - major grocery manufacturers offer the same promotional discounts to all of the grocers in a given geographic area at the same time. If a product is on sale at store X this week, it will most likely be on sale at store Y in the next week or two. No need to chase from store to store to get the sale price. It’ll be on sale at the store closest to you soon. True, but discounts vary just like prices. Higher end grocery stores I like rarely bring down the price to where my regular grocery store does. Plus every once in awhile one store does a sale price no one matches.
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Post by The Walk of the Penguin Mich on Jun 2, 2021 19:17:36 GMT -5
Spring of 2020, I was never so glad I was married to someone who needs to buy 3 of everything. We were very well stocked, and other than buying fresh food we were set for everything else. DH has several food items he stocks up on in Canada, they aren’t available in the US. I think he is now down to his last jar/bottle, so the border needs to open soon for him! Like wvugurl26, I bulk buy just about all of our toiletries. Locally, there have been some things I just can’t find regularly.
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steph08
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Post by steph08 on Jun 2, 2021 19:23:05 GMT -5
I have four grocery store options, too. But I have to drive 12 miles to get to the town that has those options! My coworkers live in more urban areas, but with all the stoplights, they basically have to take the same amount of time to get to the grocery store that is only 3 miles away.
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nidena
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Post by nidena on Jun 2, 2021 19:37:12 GMT -5
I don't consider buying in bulk as stockpiling so much as reducing the number of future trips. I *need* buy a package of toilet paper twice a year at Costco. Disposable plates--once.
During three years in the military, I was in the Process Improvement office, and we did a lot of studying of JIT, mainly when it came to buying for our tool cribs in maintenance. Doesn't work for everything but, as with anything, keep what works and discard the rest of the teachings. I'm a big fan of 6S--makes JIT much easier to maintain.
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tallguy
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Post by tallguy on Jun 2, 2021 20:01:25 GMT -5
I am fortunate to have a number of grocery stores nearby. I generally use four, two of which I can easily walk to and two more which I drive right by but could walk to if I wanted, and if I wasn't buying anything heavy to carry home. Two or three per week is normal. One close friend has one store within maybe three or four miles, so yes, I appreciate the abundance. I also have space to stock up when things are on sale, and there are very few things (if any) that I ever buy at full price. I could never go to a "buy everything at one store" model. I am a saver by nature and enjoy "beating the game." If something is not on sale when I need it I can easily forego it for a week and buy it later. Don't really miss out on anything because there are always workarounds. Oh, and bill, I am disappointed if my savings is under 50%, and it is never under 25%. Trade secret - major grocery manufacturers offer the same promotional discounts to all of the grocers in a given geographic area at the same time. If a product is on sale at store X this week, it will most likely be on sale at store Y in the next week or two. No need to chase from store to store to get the sale price. It’ll be on sale at the store closest to you soon. Yeah, but they are all close to me. I've got four within a mile or so that I go to. If I wanted to drive ten minutes there are maybe eight or ten different chains with multiple locations of some, but I really have no reason to do that. I can ignore small sales at one store in favor of better sales somewhere else, and I stock up when I find good sales. I can't imagine my grocery bills are more than $120-150/month if that much, including all household stuff. If I wanted to stick to one store the cost would be considerably more. Plus, I don't have to wait and hope for sales. I take them when they come. Seems to work.
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thyme4change
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Post by thyme4change on Jun 3, 2021 8:27:28 GMT -5
One of the hardest things with JIT on personal use is produce. My father called "Fruit Management". You have to stand there with a peach in your hand and determine how many days it will be until it is ripe, and then decide if you will eat a peach on that day. And if someone else will be there and also want a peach. You can't always count on the store having a ripe avocado if you are going to have guacamole tonight. You have to keep an eye on the produce department and try and time your avocado purchase.
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teen persuasion
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Post by teen persuasion on Jun 3, 2021 8:57:37 GMT -5
One of the hardest things with JIT on personal use is produce. My father called "Fruit Management". You have to stand there with a peach in your hand and determine how many days it will be until it is ripe, and then decide if you will eat a peach on that day. And if someone else will be there and also want a peach. You can't always count on the store having a ripe avocado if you are going to have guacamole tonight. You have to keep an eye on the produce department and try and time your avocado purchase. Yep - bananas are our challenge. DH wants a supply of bananas for his lunch. But when shopping it's a crap shoot whether the bananas in the store will all be either so green as to be inedible for at least a week if not 2, or already overripe to the stage that we'd be making banana bread from them. Can't buy more than 5 days or so worth even if they are at a perfect stage, because they continue to ripen. But I want to shop no more than once per week, because the nearest grocery stores are in another county.
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