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Whether it is production or logistics or both, depends on the scenario. We are seeing both right now and have for the past 18 months. Some farmers cannot get workers, supplies, fuel, so they have let crops rot and/or plow them into the ground. Then there is the logistics of fuel and truckers (the latter will probably be mitigated in the near future with autonomous trucks in at least some parts of the chain).Production outpaces consumption, if that changed, there would be issues, but stores being bare within a day during panic isn't a production issue, it's a logistics issue.
Right now there are chinks in that "armor", weak links in the chain and we are seeing problems due to those issues.If we had a serious long term logistics issue, that obviously could be a major problem, but thankfully people who work for a living are incentivized to keep doing that.