Wires and printed circuit traces are inductances. The inductance is a resistance at high frequencies. If your circuit has modern high frequency opamps, digital logic or a microcontroller and if there is only one bypass capacitor at the power supply then the ICs have no bypass at the frequencies they can oscillate at.
I your circuit uses a few lousy old slow LM324, LM358 or 741 opamps then a single 10uF bypass capacitor is used on a small circuit board.
A 555 IC draws 400mA for a moment each time its output switches so the datasheet for the LM555 recommends two bypass capacitors for it. One 0.1uf and a 1uF to 10uF.
I can hardly remember old fashioned TTL logic but I think they also produced a high output current spike when switching. I always used a 0.1uf ceramic bypass capacitor for each IC.