The Toyota company has been the pioneer in using the just in time concept for its procurement management system in the production process, as well as the management of its supply chain management. The company has been able to this by its business philosophy for lean production and operations while employing strict quality controls and wastage minimization practices. The Toyota Production System enables the company to align its operations with its strategy. The approach enables the..
“By basing production on demand rather than simply on capacity,Toyota manages to keep inventories, both of parts and of finished goods, to a strict minimum. But this is only one of the more obvious advantages ofToyota’s unconventional approach. By focusing on smaller production lots and producing only what customers require when they require it,Toyota has developed a flexibility and responsiveness that continues to set the standard for the industry. With its Attention to continuous improvement (Kaizen),Toyotahas attained die-changeover and machine-set times that are a fraction of its competitors’. Thus its capacity for reacting quickly to new market trends makes TPS an ideal system in today’s rapidly changing global business environment.” (The Toyota Production System)
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