Just in Time morphed into something very fragile. When you disrupt the flow, it creates the vapor lock throughout the process.
Global companies used to operate like a buffet. Food was cooked with the expectation that the same number of people would show up today as yesterday. (You got what you wanted, right then!)
But hey learned that bad ingredients spoil the whole batch. Big batch, big loss. Rain comes and no one shows up. Their cash is always tied up in the prepared food sitting in that $50,000 frig they had to buy. That cash could be used to invest in a lot of other things besides refrigerators, employees at the line, and Sterno food warmers.
They became short-order grills. They won't make it until it's ordered and paid for by the customer. They run it in small batches so the first one in line has to wait until 30 more order the same thing. (Does, "Your item is on backorder sound familiar?)
Next, they stopped keeping the eggs in ham in the frig. Raw products = cash and it was continuously tied up so they pushed back to the supplier to have it on standby making them use their frig and their cash. (You just ordered breakfast and the egg guy just got the call to bring a dozen eggs. (You wait for just a little longer now).
Fast forward 20 years and the small companies who support the big ones have started doing the same thing. Covid hits and the dominoes fall clear back to the raw materials companies.
All that to say that all companies have gotten leaner and the response time for each step has gotten longer. Few are willing to hire more or invest more capital when it may all break down again soon. We all know that it is better to run a tractor or truck every day rather than have it sitting for long stretches and this why, I think, we are all struggling today.