The company combines these with the element of long standing and innovation based partnerships with business partners and suppliers by providing them a competitive edge in the industry as well as attaining a competitive edge in terms of efficient procurement of materials and fast and flexible operations on an automotive assembly line through the use of automation based technology.
The entire business of the Toyota from procuring raw materials for the production, to processing and to the supply of the finished products in the market revolves around the philosophy of Toyota Production System.
The Japanese car manufacturers like Honda andToyotahave also been the pioneers in the industry for manufacturing hybrid cars. The future of the Toyota Company as a result lies in mass producing affordable hybrid cars which would be more suitable and preferred by the consumers of today as a result of the high rises in the oil in the international market for fuel and lubricants. While the German and the American automobile manufacturers are also taking up on the trend, due to the innovative and updated Toyota Production System and the company’s philosophy the Toyota Company is well ahead of its competition on mass producing hybrid automotive vehicles. “Ford and Mercedes-Benz are among others rushing to join the stampede.Toyotais firmly in the driving seat where hybrids are concerned. The company hopes to capitalize on this advantage by incorporating hybrid technology into other vehicles as part of an ambition to introduce it right across the board. By early next decade, Watanbe hopes to shift a million hybrid cars. WithToyota’s track record, it would take a brave soul to bet against it happening.” (‘HowToyotastays ahead of the pack’, 2006)
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