In: Economics
Write about the features of toyota production system and advantages of this system against traditional production system.
Step 1: Features of the Toyota Production
System:
It is developed by an automotive manufacturer Toyota for organizing
manufacturing and logistics efficiently.
It is an integrated socio-technical system.
It has a philosophy of working intelligently and elimination of
waste so that only minimal inventory is needed.
Cash flow is increased and physical space needs are reduced by this
system and the required result is delivered smoothly through the
internal process one piece at a time to end customer.
This system has responsibility for having made Toyota the company
it is today.
Step 2: Advantages of TPS:
TPS provides a few advantages to those who choose to implement
it.
a). All aspects of safety are improved by this system for employees
and customers. It is a safety-conscious system that reduces the
risk in the workplace as well as found on the road.
b). Customer satisfaction is improved by this system by providing
products that are free of defects. TPS put its customers first that
is the reason behind the success of TPS.
c). Efficiency is increased, waste and cost are reduced by
TPS.
d). Quality in products and processes is improved by TPS. Some lean
methods are used to reduce errors and improvement of
quality.