The Toyota Motor company was greatly able to make reduce its lead time and cost through the employment of the Toyota Production System approach to operations management. The efficiency of the company in terms of making highly efficient, high quality cars made the company one of the largest companies in the world in terms of its scale of operations as well as its revenue base and brand value.
While the Toyota Company has been operating with the lean production approach of Toyota Production System the company is equally successful as its American, Italian and German counterparts. In fact in terms of volumes produced and popular cars amongst general consumers, the Japanese company of Toyota is much preferred by consumers over the pricy cars manufactured by American, German and Italian automobile manufactures.
The Toyota Production System is one of the main reasons for the success of the Toyota Company in the global automotive industry. The production system was derived as mentioned earlier from the assembly line manufacturing process established by Ford. However the Toyota Production System does away with the inefficiencies which were inherent in the Ford production system, specific to uneven production at different levels of the assembly line, the large amount of inventory required on site and operations performed in the various departments of the Ford Company which were not correlated to each other, therefore contributing to wastage.
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