Toyota influenced many organizations around the world and created the foundation of modern manufacturing. Toyota is the world’s most valuable automaker with a market cap of $200 billion and $50 billion in cash.
Part II of this two-part episode focuses on the Toyota Production System and its key elements. The Toyota Production System is based on continuous improvement and identifying problem areas first-hand. In addition, the Toyota Production System is the basis for current lean manufacturing. Also known as the Thinking People System, the Toyota Production System is about empowering every employee, at every level of the organization to continually improve themselves and the organization.