All of this talk about supply chain issues are totally missing the point in my opinion. So many articles (and tweet chains I guess) have been written about supply chain issues, yet every one of them seems to ignore the elephant in the room which is demand for goods vs services. Over the course of the pandemic there was a staggering re-balancing of consumer spending [0] from services to goods, to which supply chains have not caught up.
If the spending doesn't re-balance again as restrictions are lifted this is not a temporary supply chain issue caused by just-in-time methodology, it's just the new normal.
If the spending doesn't re-balance again as restrictions are lifted this is not a temporary supply chain issue caused by just-in-time methodology, it's just the new normal.
[0] https://apps.bea.gov/iTable/iTable.cfm?ReqID=19&step=2#reqid...
EDIT: That link is broken, should have been this https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri...