Managing Operation Essay Example | Topics and Well Written Essays - 4000 words

Managing Operation - Essay Example   The operations of an establishment are all the activities which are directly linked to accomplish the key function of the organization – be it producing a product or rendering services. In both the cases the operations system of rules will offer the transition of certain inputs, like materials and labour, into outputs, as products or services. This paper will discuss about the company Toyota Corporation and how it became the number one car maker. Toyota Motor Corporation, which is based in Toyota, Japan, is one of the world’s largest automobile manufacturer offering well known car models like Camry, Corolla, Corona and Lexus. Though a late entrant compared to General Motors and Ford, Toyota had become one strongest player in the automobile industry. In an industry generally considered to be mature in terms of technology, Toyota had continued to set benchmarks for providing value to customers more effectively than competitors. Toyota had also redefined the rules of operation management in various areas like product development, manufacturing process, vendor management, customer satisfaction and human resource management. The formal establishment of Toyota motor company ltd., took place in 1937 and since then it moves onto become the leader in the global automobile industry. By 31st march 2008, Toyota group approximately sold 8.9 million vehicles in 170 countries under the Toyota, Lexus, Daihatsu and Hino brands. Since the automobile industry is now facing a recession, Toyota aims to achieve sustainable growth by building a more flexible and stronger operational process and corporate structure to counter the challenges of the hyper competitive market world over (Annual Report, Toyota, 2008). Toyota devised lean production which is otherwise known as the Toyota Production System (TPS) which has started a worldwide shift in almost every industry to Toyota’s