The Evolving Supply Chain

Almost every industry has experienced one or more significant changes in the last few decades, driven by changes in the areas of manufacturing, fulfillment, technology, and the customer experience. One such example is the Toyota Production System (TPS), also referred to as just-in-time production (JIT). Introduced by the automotive manufacturer Toyota, TPS was instrumental in changing the approach toward managing the flow of material in the factory, based on goals of reducing waste, such as over-production, machine or operator wait time, raw material inventory, and rework or scrap. By employing TPS, Toyota greatly reduced lead time and costs, while improving product quality. TPS is regarded as the precursor ...

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