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Abstract:
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In any business environment companies experience challenges and competition .
In this current worldwide economic crisis , the stakes are now higher . With every crisis
comes opportunity . The best companies with the best methods and processes that create
highest quality product for less money will have an extraordinary advantage over their
less efficient , lower quality competition . The term ‘Lean’ describes how Toyota does
business : fewer humans , less effort , less investment , fewer defects , less time to develop ,
less inventory . For companies that have truly understood and implemented these
principles the effects are significant ; but many others have failed Lean initiatives . What
factors are necessary for a company to successfully adopt the processes proven by over
50 years of success in Toyota ? Using both primary and secondary research , I compared
attributes of four companies , three of which were successful , and one that did not make
the conversion . Three main factors emerged , the Technical Factor - - knowing both your
core business and having a deep understanding of Lean principles , the Management
Factor - - strong leadership operating within Lean principles and with hands -on approach ,
and the Human Factor - - approaching the workforce with respect and employee
engagement in problem -solving process . The following is a brief review of these factors
and the tools and concepts that undergird them . |