I'm a QA professional and you are all correct.
JIT, TQM, Kan Ban, 5S, 6 Sigma, Baldridge... the list goes on and on..... and none of it is a majic solution. I have seen them work, and I have seen them fail. It all depends on the situation, the support from the top, and the resolve of the workforce.
I would place our current product next to any competitor on the market today. Not because I'm such a great Quality Guru... but because we got a new President who insists upon it. Suddenly arguments over "good enough" went away. Decisions to ship and bank instead of hold and repair stopped cold.
The examples stated here of idiotic JIT decisions and silly 5S garbage runs are just that.... silly and idiotic. Anyone who would allow perfectly good parts to be thrown away is criminally stupid, and has no clue how 5S should be accomplished.