About TOYOTA
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Introduction
Toyota Motor Corporation (TMC) is a top ten Fortune Global 500¹ enterprise, and ranks among the world’s leading global corporations. Toyota is one of the world's largest automobile manufacturers, selling 7.5 million models annually² on all five continents. Toyota Motor Corporation (TMC) is a top ten Fortune Global 500¹ enterprise, and ranks among the world’s leading global corporations. Toyota is one of the world's largest automobile manufacturers, selling 7.5 million models annually² on all five continents. Toyota is proud to be one of the most admired car makers of all time³ , an achievement the company believes stems from its dedication to customer satisfaction. Like many enterprises that have made their mark in history, Toyota has been shaped by a unique set of values and principles that have their roots in the company’s formative years in Japan.The Toyota story begins in the late 19th century, when Sakichi Toyoda invented Japan’s first power loom, which was to revolutionise the country’s textile industry. In January 1918, Sakichi founded the Toyoda Spinning and Weaving Company, and with the help of his son, Kiichiro Toyoda, he fulfilled his lifelong dream of building an automatic loom in 1924. Two years later, he established Toyoda Automatic Loom Works.Like his father, Kiichiro was an innovator, and during his visits to Europe and the U.S. in the 1920s he became deeply interested in the nascent automotive industry. Making the most of the £100,000 that Sakichi Toyoda received for selling the patent rights of his automatic loom, Kiichiro laid the foundations of Toyota Motor Corporation (TMC), which was established in 1937. From looms to cars, the Toyota experience has been a constant story of extending the frontiers of manufacturing.
1 As published in the July 2003 edition of Fortune magazine
2 Including Hino and Daihatsu brands
3 As published in the February 2003 edition of Fortune magazine
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TOYOTA PRODUCTION SYSTEM |
If there is any one reason for our worldwide success, it is the way we build cars. The Toyota Production System is the most efficient manufacturing system in the automotive industry. What makes the system unique and powerful are (1) the way it turns production into a smoothly-flowing process, and (2) the way it liberates human creativity. Workers at Toyota are not cogs in some vast machine, but self-organizing centers of constantly improving activity. The system encourages personal initiative and rewards the individual with job satisfaction. |
LEAN & QUALITY PRODUCTION |
TPS is characterized by the Just-in-time (JIT) philosophy, which shortens production lead-time and makes the total system as efficient as it is flexible. JIT refers to the production and conveyance of only what is needed, only when it is needed, and only in the quantity needed. Implementation of JIT results in higher productivity, lean inventories and operating savings. |
