That would be nice, although there's literally no space in the GUI for it. I suppose maybe it could be a setting one-notch past or before "infinity".
It also would only functionally work for building materials. If I allow it for tools and weapons, it would just cause the same problems the pre-management tab system will cause in the future, because the AI won't be able to understand what "As needed" means for tools and weapons, when there's various options for similar-but-different equipment in the future.
I think the main problem will be time management, most refining materials take a while to create. If you don't already have a stockpile chances are if you set everything to "as needed", you'll always be waiting for boards, cut stone or crylithium to be made (Especially with buildings like Hovels, that require a ton of boards). For late game play, it would probably be in the player's best interest to maintain a small stockpile at all times.