Question

What is the benefit of the lean philsophy and how has it been applied in business (research and share examples of actual companies)

Answer 1

Lean Manufacturing is a tecnique of production claimed to be orignated by car company Toyota in Japan. The main focus of Lean Manufacturing is to eleminate waste and thereby increase productivity. To sum, the noticable advantages of Lean Manufacturing are:

• It helps in creating work process where lower level workers are trained to look for ways to eleminate wastage at every pojnt of production
• It leads to improved productivity.
• Improved productivity results in lower costs and better products to customers
• Creates a market differentiation among peers

Use of Lean Philosphy in Businesses:

• Walmart have used Lean Manufacturing in eliminating the need to hold the stocks in the back of the store or in a local warehouse. Walmart is known for its big stores which holds all sorts of varieties. To manage the demand and supply of the products, they have applied Lean philosphy where they make keep required units of a product at their main store and whenever the stock reaches a minimum level, store is signalled to provide them with more store. This way, store is not crowded with extra units of particular product and they can have more of the varities to keep
• Another example can be of Jaguar where they instead of keeping all the materials of car manufacturnf on the factory floor, keeps them at seprate storage areas where they get delieved at Just in Time of need of them. Ex, seats are fitted at last in the assembly stage of car, instead of keeping them at floor all the way through, it is kept at store and is delivered when required.