The research paper investigates the impact of the COVID-19 pandemic on the Just-In-Time strategy in the semiconductor industry. The aim of the research is to examine the way in which the implementation of the Just-In-Time strategy contributed to systemic weaknesses in the supply chain of the semiconductor industry. The semiconductor supply chain has faced enormous difficulties that have affected entire industries. Also, it is considered how the direction of development of the semiconductor industry in the past created conditions of very high risk of systemic disturbances in the present and future. The paper consists of two parts. The first part of the paper defines the main terms and shows the historical development of the semiconductor industry. Also, the key definitions of the Just-In-Time strategy are presented, the development of the semiconductor supply chain, key stakeholders and their business results before and during the COVID-19 pandemic are explained. The COVID-19 pandemic and the initial effects of closing economies are briefly described. Finally, we make an observation about how the conditions for the "Perfect Storm" were created. Through the chapters, an effort was made to present a broader picture of the semiconductor industry in such a way that each chapter complements the knowledge from the previous one and connects them into one cause-and-effect unit. The second part of the paper deals with research through a survey among expert managers from the industry. The semiconductor industry is characterized by the non-transparency of the supply chain, which is also reflected in the unavailability of reliable public information about the real causes of disruptions. The research, therefore, relies on the interpretation of the survey questionnaire. The results of the survey are presented with the help of tables and graphs, which are supplemented with interpretations of the results by the author of the paper. In the research part of the paper, 16 hypotheses were set with the aim of gaining a better insight into the events in the supply chain of the semiconductor industry. The set hypotheses, among others, seek to confirm the connection between the semiconductor industry's difficulties in the supply chain and the insufficiently implemented Just-In-Time strategy. The research work showed that due to multiple reasons, the implementation of the Just-In-Time strategy was limited with a focus exclusively on one area despite the employment of professional and experienced staff. Furthermore, on the basis of the research, we can conclude that disruptions will appear in the future for some companies and that current efforts to increase production capacity will not solve the source of the problem.