The Toyota Way, Second Edition: 14 Management Principles from the World's Greatest Manufacturer, 2nd Edition

A Storied History: How Toyota Became the World’s Best Manufacturer

I plan to cut down on the slack time within work processes and in the shipping of parts and materials as much as possible. As the basic principle in realizing this plan, I will uphold the “just in time” approach. The guiding rule is not to have goods shipped too early or too late.

—Kiichiro Toyoda, founder of Toyota Motor Company, 1938

The most visible product of Toyota’s quest for excellence is its manufacturing philosophy, called the Toyota Production System (TPS). The importance of TPS in revolutionizing manufacturing cannot be overstated. The mass production system often associated with Henry Ford was a smashing success at the time. The focus was on large-volume production ...