What looks like efficiency emerges as fragility in the JIT — Just InTime — economy. [abc.net.au]
I once had an employer obsessed with that philosophy. He would short the smaller customers so he could have product to ship to the bigger customers. Ultimately, even the bigger customers got sick of him. And his company went bankrupt. I'm half expecting this pandemic to drive the entire Capitalist world into bankruptcy!
I'm in hospital medicine and I see this also called the Lean procurement model. And as I've discussed with my colleagues, the fact that hospital administrators never thought for a second that we might one day be overrun because of a pandemic is unforgivable. Illness is our stock in trade for fucks sake.