The Toyota Production System is a method operation initiated by the Japanese which aims to focus on lean production and operations. The system makes use of philosophy and practices of the socio technical environment at Toyota and provides how efficient and lean operations can be achieved in a production system.In the Toyota Production System the different functions of logistics and manufacturing in the automobile sector is brought together to better form relationships with the suppliers and the customers of the company as well as make way for just in time operations. The Toyota Production System emphasizes lean manufacturing and previously was also known as the Jut in Time Production method.
The Just in Time method of managing inventory and JIT Production deals with having a long term agreement with dedicated supplies, which are willing to provide the inventory as and when needed by the company. In JIT Production, the resources that are required in the different phases of the production cycle are procured, and provided to the production function at the specific time it is needed to be consumed by the production function. This eliminates the need for the company to manage its own inventory and therefore reduces considerable expenses for the company in terms of inventory management, holding and costs associated with depreciated, damaged and wasted inventory.
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