Why are America and Europe having so many equipment issues nowadays?

So recently with the reports of Israel running low on AD missiles, I've been thinking. Why is it that during the "war on terror," equipment stocks never seemed to be as much of an issue. From my memory in Iraq and Afganistan and such it was more of a logistics issue vs literally not being able to produce enough. Idk, maybe my memory is just wrong here. But I wanted to ask