I seem to recall that as originally conceived in the Toyota Production System, suppliers of Just In Time inventory were supposed to be sited in the same location as you. I wasn't able to find a reference for this though ...
Toyota isn't the only company that does this. If you supply Toyota they require you to do this in some form, including making your suppliers do it. (this is part of knowing their suppliers 6 levels deep - something they also do to ensure they don't use slave/child labor even indirectly). There are other companies that don't supply Toyota that have also taken this same lesson.
The point is just in time is hard to do right. The simple elevator pitch has many obvious problems that those who do it are careful about ensuring they don't happen.
But that's not what has happened here. Continually increasing demand (read population growth + geo-conglomeration of industries) has stretched the global supply network(s) to fragility, necessitating JIT in absurd distances and quantities, in turn requiring ships 400mx50m to squeeze through canals they barely clear the bed of at speeds slow enough for them to not cause over-swell but not fast enough for them to have enough thrust to overcome crosswinds.
You cannot just stop buying your chips for a year and then complain when manufacturers re-tooled around you.