By late 1942, German technology (industrial or military) was mostly superior to anything the Allies were fielding. There was just one problem - the free Allies had much greater industrial capacities. That capacity churned out the Allies's inferior technologies in much greater numbers than anything available to the Axis. By the time the Allies started serious bombing of Germany's industrial core, the writing was on the wall. The German economy could no longer supply much-needed reinforcements, supplies and support for their fielded armies.
The other Achilles heel of the 3rd Reich's war machine was a lack of manpower. During the final defense phase of the European Theatre war, how many young healthy men were left in all of Germany (let alone in the military)? Nowhere near enough to field an effective army given the manpower-intensive armies of that era.
Right by that,... But by late 1942 Hitler and his generals nearly made any ´fatal´ mistake,... at that point germany had nearly already lost the war, but Propaganda worked still pretty well. Hitlers strategy to hold ground by "last man and last bullet" and the will to please this order made many Generals continue this war.
Second thing you mentioned. supplies is a big point,... And the end of ´41 soem Generals told Hitler that the war against russia can´t be won anymore,.. not as "Blitzkrieg", and even less by fighting a long hard war,... (Only way they could have won would have been Capturing Moskau, Leningrad, uniting with Finnish Troops in the North and uniting turkish troops in the south, by late ´41,.. none of that EVER happend...) So when he realized that he went over to his secon Goal for the war: Kill all European Jews! so in January 1942 they had the "Wansee Conference" in which they tried to find the "best way" to accomplish that mission. Since they started shooting houndred of thousands in poland and first occupied russian territory, German Military (and Science) was looking for a way to kill thousands at a time, which wasn´t to hard for the Mourderes! (If you shoot someone you feel resposible for it, doesn´t matter if it was an order or not...! YOU SHOT! and shooters were full of blood,brain- and bone parts, ´cause the victims were shot from short distance... mostly under 2meter)
So germans blocked their own supplies for that mission. In at the end of ´43 nearly 70% Trains of the "reichsbahn" were assigned to get Victims to the Concentration Camps,... even if there where enough supplies, they couldn´t get it to the front in time!
Any if you look at the society of germany in early 1930s most German Jews would have been "happy" to fight for Germany,... imagine hitler hadn´t killed 6 million (its between 5,2 and 7,1 million so 6 Million is the agreed Number.) but used maby 2million of them as soldiers! And the other 5 million people that where shot or killed in Concentration Camps,.. same with them at least one milliopn could have fought for him (which other 5 million u ask? :Homosexuals, Gypsys, Russians, Democrates, Communist, people of "worthless Races)
So Hitler only really could have won if his mission to get room in the east would have been realized by 1942. After stalingrad at the end of 42 the germans were retreating. And in ´44 after the invasion it was way to late. But since Allied Stragedy failed in a couple of operations the war countinued a hole year!
Imagine Strategics for Operations "Market-Garden" would have listened to the reports, that big Tank Units are in the Area of Arnheim,... at the very least live life of more than 8.000 allied soldiers could have been saved (and not spend can i say worthless,... i do think so!)
Cheers