Create a 6 pages page paper that discusses analysis of the business operations of toyota.
Toyota has been able to achieve a competitive advantage within the highly competitive automobile industry across the globe by applying supply chain and inventory management concepts. The Toyota Prius is one of the products by Toyota that has helped the company to gain a competitive advantage because of its focus on providing greener energy solutions that the vehicle market desires. Additionally, Toyota also applies the lean philosophy of manufacturing that advocates for the minimization of any wastages and also focus more on achieving cost reduction measures in order for the company to continue running efficiently.
The Toyota Prius has been able to reduce costs because vehicle consumers have shifted from the conventional fuel-powered vehicles that are usually affected by fuel costs. The company also solves its problems adequately by continuously training its staff on how to handle certain production challenges and also anticipate such problems in the future. With this, this essay will review and critically analyze the operations of the Toyota company with a keen focus on the Toyota Prius vehicle, which will also include figures that would illustrate the production process of the same.
The production system applied by Toyota is highly standardized and it also effective because it eliminates wastages through lean production and movement, which is one key principle in operations management (Eyob & Tetteh 2012, p. 225). Also known as the TPS (Toyota Production System), this philosophy tends to be customer-oriented that has led to the adoption of the same strategy by other companies across the globe. This strategy is a flexible one and has helped in the running of daily activities at Toyota because of the outcomes that it seeks to achieve. According to Jayaram, Das & Nicolae (2010, p. 280), one of the desired outcomes that this process tends to have is that the company seeks to provide high-quality vehicles to their consumers with the cost attached to them being as .low as possible and within the shortest time. .