write report on Toyota company about 100-150 words
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In 1933 company was founded by Kiichiro Toyoda. In 1934 department of Toyota industries manufactured first product the product called Type A engine and its first passenger car AA in 1936. Toyota bought some other companies also and own and operates Lexus, Scion, Daihatsu and Hino Motors and shareholdings in Fuji heavy industry, Isuzu, Yamaha, and Mitsubishi Aircraft Corporation. All these and some other in total includes around 522 subsidiaries.
Toyota is headquartered in Toyota City, Aichi and in Tokyo. Instead of automobile Toyota also provides financial services through its division Toyota Financial Services and also builds robots for different industries. Toyota Motor Corporation its financial services and Toyota Industries all together form the bulk of the Toyota Group and one of the largest conglomerates in the world.
Toyota is worldwide famous and well known company because of their high quality manufactured cars, Toyota is doing very well and growing very fast globally they have their operations, manufacturing facilities and valuable loyal customers all over the world. The new technology Hybird in Toyota cars gave a new pride to Toyota and the sales of Toyota going up day by day. In last few years Toyota became number one in automotive industry and became a number one in mostly selling their cars worldwide. Below chart shows the figures of manufactured cars in 2008 and the chart is showing other companies production also.
Toyota Lean Production System
Lean Production/Manufacturing
Lean production is a model followed very well by Toyota which helped a lot to improve their working conditions and helped them to save time and money. The main concept behind this word lean is more outputs against less input in less time. The main sources of this less input are money, work force, working space, inventory and time. These wastes needs to be eliminated, in other words lean production means to minimize the waste and make easy, simple steps and speed up the working results.
Toyota Production system called as lean manufacturing also because they introduced and worked on this concept of saving extra wastages. The system eliminates the overproduction, waste, useless transportation, inventory, motion, defective goods, over processing, waiting and implementation of the concepts like continuous flow and customer pull. The major areas which are very considerable and main causes are:
Quality
Delivery
Safety
Costs
Morale
Diagram showing components of Lean Production System
Advantages of Lean Production
Lean manufacturing helped Toyota to achieve many targets with the help of this system they achieved many benefits which helped them to save money, time and work force and many other factors also that indirectly strengthen the company and help their market share grow worldwide significantly.
Within few years the lean production helped them to reduce wastages by around 80% which is very high for this type of big company, production costs were reduced by 50 percent and manufacturing cycle time decreased by around 50 percent also. Inventory reduction reduced significantly which helped them to save space for storing and work force decreased by 50 percent also.
These reductions encourage them to increase facilities for employees and customers, improved the working environment. Friendly, comfortable working environment encourage employees and it helped to have higher quality and higher profits. They achieved many benefits through great system flexibility, more focus and good flow of shipping and billing frequencies.
Below mentioned chart illustrates very clearly the different between the traditional manufacturing system and lean manufacturing system. Production system of 20th century was recognized as a mass production system of Toyota and lean production system is taken as 21st century production system