Having cash on hand is underrated, particularly in business

Just in time.

The first time I heard about this production concept was during Covid-19 and how tons of businesses simply failed, because their production and sale funnel was fully dependent on constant and consistent shipping of goods and parts from China. This in contrast to having local storage of parts and goods.

Just in time, meaning, don't waste space and time on storing and warehousing, have the parts be ready.. just in time... they're needed.

What does this actually mean in more abstract terms?

I was thinking about it when I checked my empty fridge today. It looked empty, I could just buy takeaway every day of the week if I wanted, but if I was actually broke, that fridge wouldn't be empty, it actually had onions and I had pasta in my cupboard, I had lots of various spices and in my fridge I has frozen meatballs. So my fridge was not empty at all, I just needed tomatoes and I had a deliciuous pasta and meatballs, which I could learn how to cook to delicious taste just from watching a Youtube vid. An added benefit would be that I knew exactly what was in it, because I prepared it.

So is just in time, outsourcing everything, financing everything, making you less dilligent in terms of investments and purchases?
 
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