Toyota has reported $8.2Bn profit for the first quarter of 2021 when the whole manufacturing industry was struggling to survive. Toyota was able to increase their profit, despite the declining sales, supply chain issues and the rising costs of materials. What was their secret?
No, it is not Bitcoin. Their secret is called the “Toyota Production System” (TPS); a set of practices which keep manufacturing operations ‘lean’ — profitable. But their version of ‘Lean’ is not really written in books or taught outside their company.
At the NK Institute, we are proud to provide a training in TPS with Sensei Ritsuo Shingo, who managed Toyota’s manufacturing operations in China, US and UK for forty years. This is a unique chance to learn how Toyota runs their manufacturing operations directly from the source.