Staying Afloat The Toyota Way
Posted by: meikah | 2 November 2008 | 10:48 pm
I just have to share this with you today. It’s all over the news that companies have been experiencing really some bad business these days.
Toyota, however, is weathering the storm, The Toyota Way. Toyota has maintained its solid balance, ample cash, and continued profitability, despite experiencing earnings slump. The company is also projected to still make over $10 billion, which will enable the company to fund measures that will help it emerge stronger.
In the short term that means steps such as offering 0% financing on certain vehicles in the U.S. That should help boost showroom traffic and tell customers Toyota has cash to finance vehicle purchases. Longer term, Toyota plans to introduce more hybrids and more attractive smaller cars.
Here’s a look at some of the measure’s Toyota is taking during the current downturn.
Perhaps, we can all operate our busines the Toyota Way. 
Filed under: Manufacturing, Six Sigma Organizations, Sustainable Business, Toyota
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Alcoa’s Excel Extrusion plant in Warren Adopts Six Sigma
Posted by: meikah | 29 August 2007 | 7:18 pm
Alcoa Inc.’s Excel Extrusion plant in Warren takes on a new owner who expects the aluminum plant to turn its products into gold. That’s according to the press release today.
According to Allen Cain, president of Golden Aluminum Extrusion LLC, the company that bought the Warren aluminum plant, they plan to grow the 130-worker plant by operating on a 40-hour weekly production by attracting new customers.
The press release says:
While not expecting to add workers in the near future, Cain said Golden does expect the plant to return to profitability by using Six Sigma standards for quality control and the Toyota Production System for lean, speedy production.
‘‘Customers are demanding shorter lead times and higher quality,’’ he said. ‘‘We’ll assure our customers we can provide them with quality products in the shortest time. We’ll look to cut inventories while increasing the velocity of products through the plant.’’
Source:
Tribune Chronicle, an iSixSigma featured link
*Photo from Stock.Xchng
Filed under: Manufacturing, Six Sigma Organizations, Deployment, Processes, Toyota, iSixSigma
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Six Sigma Reference Feature: The Toyota Way
Posted by: meikah | 20 March 2007 | 1:49 am
Almost a year after this book was left with me by my boss, I’m finally starting to read it. Not good, eh?
I’ve heard a lot about the The Toyota Way though. And I know many companies are relying on it for management strategies. The book, however, as the author attests and Toyota’s president Fujio Cho, emphasizes that it’s not the management strategies per se, but the system that makes every strategy work together every day and consistently.
Let me share with you some of the key principles that drive the techniques and tools of the Toyota Production System (TPS).
- Long-term philosophy: have long-term thinking, long-term approach.
- The right process will produce the right results: be a process-oriented company.
- Add value to the organization by developing your people and partners: have tools that support people who should be continuously improving and continuously developing.
- Continuously solving root problems drives organizational learning: analyze, reflect, and communicate lessons learned to standardize best-known practices.
You have to read this book, if you haven’t yet.
Related references:
BusinessSummaries, Book Preview: The Toyota Way “14 Management Principles from the World’s Greatest Manufacturer”
IndustryWeek, “Learning From Toyota — Again”
