No it actually does not. In real life, you can just pull out the item from your pocket or your belt within a few seconds.
Backpacks however, you would have to take the backpack off your back if you're wearing it, unzip it, look into the backpack and scrounge under the items in it to find the item you need. Then you grab it and then you get to use it. Which could take more than just a few seconds.
Doesn't really take a genius to figure this out. Just saying.
That was just a little of my sarcasm. Obviously it wouldn't take the same amount of time to take something out of a backpack as it would from those other great things!