In management philosophy, there are many terms that look nebulous, sound neat but do not do much. We thought out of the box, created synergies and had blue sky thoughts. But did it yield us better business? Lean manufacturing however yields results, increases profit and cuts costs. Organizations could not ask for more.
Toyota pioneered the term and practice in the nineties. Essentially, they looked at their processes and focused on eliminating every part of manufacture that didn’t deliver value to the customer. Value meaning anything that the client would not be willing to pay for. Continue reading