(I'm in the USA, so my comment is in that context)
It's very easy to blame this on various proxies for "capitalism" (like “return on equity”), but I think that misunderstands capitalism. It's assumed that capitalism prefers being "lean" or being "efficient" over alternatives, but it's actually circumstances that prefer being lean or efficient.
And when the circumstances change (such as when disasters or war or politics disrupt the supply chain), then other strategies might be preferred. So those businesses that have excess supply or who are able to manufacture domestically (or on site!) might have the advantage. And that will help keep products available to consumers and reduce the economic shock of changes in the circumstances we find ourselves in.
But when government decides to overwhelmingly favor "lean" businesses through policy, business incentives become perverted.
Here in Texas, businesses pay taxes on excess inventory. Its called “Personal Property Tax” and you are required, as a retailer or manufacturer, to render a value and consequently pay a tax for all of the property the business owns at the end of the year. That includes whatever inventory or materials you might own - so whatever you might be holding for reserves or disaster mitigation. So you are incentivized to make sure, at least on Dec 31, that you have as little excess inventory and supplies as possible on your sales floor or in your warehouse.
Government subsidizes overseas shipments, thus encouraging manufacturing and retail over domestic manufacturing and retail.
Government makes domestic employees and manufacturing very expensive (via wage minimums and taxes and regulation and so on) but does not extract tariffs on imported goods - especially lower-priced commodities. That makes it significantly cheaper to offshore manufacturing and warehousing and take advantage of cheap (slave?) foreign labor, environmentally harmful practices allowed by foreign government, etc. Don't get confused - I'm not saying we should have no wage minimums or employment taxes or regulations. Just that the government favors manufacturing and warehousing overseas to domestic manufacturing and warehousing.
So while there are circumstances that favor a business environment that is “efficient” and “lean”, there are tax and legal incentives that don't change as quickly as the circumstances do.
We've enjoyed a robust, dependable supply chain and robust economic growth for a long time. Lots of bad policy has taken root during that time. That bad policy is going to impede the economy’s ability to adapt to the sudden changes we've experienced. And we will all suffer for it.