Introduction The Company chosen for Operations Management Case Study in this report is Toyota Motor Corporation. It was discovered during Initial group discussion that Toyota is a strongly grounded corporation with its par excellence & acclaimed production system. One of our team member had also been closely associated with this corporation; and could back up our research with her practical work experience. Moreover, since Toyota Production System (TPS) is a great reason of Toyota’s globalised success, the group researches further on different dimensions of its strong Operations Management philosophies and concepts as a School of learning.
Toyota Motor Corporation is one of the leading global automobile manufacturer headquartered in Toyota, Aichi, Japan. This multinational corporation consists of 333,498 employees globally as of March 2013. Toyota was judged to be the largest manufacturer in the year 2012 with respect to production volume and it reported its 200- millionth vehicle produced in July 2012. As per the financial results of TMC for the fiscal year 2012-13, it reported Net Revenue of US$ 216.7 Billion, Operating Income of US$13 billion & Net Income of US$9.47 Billion.
Toyota has factories in most parts of the world, manufacturing or assembling vehicles for local markets. Toyota has manufacturing or assembly plants in Japan, Australia, India, Sri Lanka, Canada, Indonesia, Poland, South Africa, Turkey, Colombia, the United Kingdom, the United States, France, Brazil, Portugal, and more recently, Argentina, Czech Republic, Mexico, Malaysia, Thailand, Pakistan, Egypt, China, Vietnam, Venezuela, the Philippines, and Russia. Toyota's philosophy evolves from the company's origins and has reflects in its famously developed terms ‘Lean Manufacturing’ and ‘Just In Time Production’.
Toyota's managerial values and business methods are also collectively known as the Toyota Way. Toyota adopted the "Toyota Way 2001" in April 2001. It is a manifestation of values and conduct guidelines for all Toyota employees to be followed. Many believe the company’s achievement stems from its dedication to customer satisfaction. Toyota is a typical example of how Japanese industry succeeded. Although it is often conservative in design and not very creative in bringing new ideas, its special attention to build quality and reliability wins customer confidence gradually.
Its emphasis on technology development and production efficiency results in up-to-date products and good value for money. That's why its cars capture a lot of brains if not hearts. Nevertheless, in recent years Toyota starts getting more creative no matter in design and technology. Examples are Pruis and iQ. Hopefully it will be even stronger in the future.