However it isn’t some marketing BS made up to appease the accountants but a process introduced by Toyota, along with the Kanban principles, during their large upscale in the late 60s early 70s when small Japanese cars became more economical to the outside world than big American gas guzzlers.
It's good in a manufacturing environment as the suppliers have long-term call-off contracts and are incentivised to bring the stock to the shop floor or the gate in the wire (or rather are penalised if they don't).
It's no good in a maintenance environment bc even if the suppliers can fulfil in 24 hours the unit is out of service until the parts can then be fitted. You need them on a shelf in the same physical facility or at most 1 hr's drive away.
You can 3-d print metal items too, but it’s rather more expensive so not seen in the hobbyist market like the plastic ones.
But I suspect not economically enough for the rail industry to bother with.
Yes you can provided you have the drawings. With machinery of this age a lot of suppliers will have gone out of business, even those that haven't may not have usable drawings they can find. Scanning a worn or broken part is quite error prone.
Simple example: old Morphy Richards breadmaker drive belt apparently failed yesterday. Google AI said the correct one for that model no. had 175 or 179 teeth. Various online suppliers looked plausible.
When I took the bottom plate off it was a poly-V belt not toothed. Fortunately it had just come off and needed re-fitting, don't know how long that "repair" will last though.
Another example: ordered replacement spring for Felco pruners a week ago. Supplier sent wrong tracking number and DPD have THREE TIMES tried to deliver it to the wrong house with a totally different name at the other end of the village.
Fortunately neither is mission critical. But I do keep spares in the garage for all consumable parts for the rainwater treatment plant. The irony is that the 5000 litre tank level is now down to the first warning sensor, we need rain!