Um, not really. The problem was sheer manpower.
Let's just take tanks. German Tank production increased every year until 1945, when the wheels flew off the wagon. But they USSR and US were producing far more. It really didn't matter than the Tiger II was a superior tank to the T-34 or M-4 Sherman, sheer numbers crushed them.
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Now, key point. German Industry didn't really get its head out of its ass and nationalize the way the allies did until Albert Speer became War Production Minister in 1942. Before then, the Nazis didn't really want the war effort to disrupt life for the Average German. They didn't put women in the factories, they didn't engage in any serious rationing like the Allies did.