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Describe a major global corporation (1) a leading manufacturer or (2) a major retail or restaurant business: Total Quality Management (TQM) at Toyota

Dr. W. Edwards Deming developed 14 principles for production and operations management that came to be known as Total Quality Management (TQM). One principle is to work in teams. He advised his clients to: "Break down barriers between departments and staff areas. People in different areas, such as Leasing, Maintenance, Administration, must work in teams to tackle problems that may be encountered with products or service."
Research a leading manufacturer or a major retail or restaurant business. Analyze the company's production and operations management system and evaluate the use of teams in its production and operations management.

1. Describe a major global corporation: (1) a leading manufacturer or (2) a major retail or restaurant business. Describe the type of business, market share, financials, size, and global presence.
2. Describe the company's production or operations management.
3. Describe and evaluate the company's use of teams in production and operations management.
4. Analyze and evaluate the company's ability to adjust to a major economic, environmental, or natural crisis (such as the real estate crash, financial crisis, nuclear meltdown, hurricane, flood, oil spill, etc.) and communicate effectively with their employees and customers about issues caused by the crisis.

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Running Head: PRODUCTION AND OPERATION MANAGEMENT

Production and Operation Management of Toyota

Introduction
In today's fast moving economy, every organization needs to change their production and operation and provide effective products and services to the customers according to their needs and demands. This paper discusses the operation and production management system of Toyota and the use of teams in production and operation management. This paper also discusses the ability of Toyota to adjust the crisis.
Toyota Motor Corporation
Toyota is a leading car manufacture company in the world. Headquarter of Toyota is in Japan. The company deals in luxury cars, trucks and cabs and in recent year, company launched its hybrid car called "Prius" for the customers in the market. Toyota covers major shares in the market and ranked on number one in the year of 2010 with 8.6 million units produce globally. The market share of Toyota in FY 2011 is 11.5 percent (Bloomberg, 2011). The net revenue of Toyota in 2011 is $ 229.06 billion. The market capitalization of Toyota is $ 212.60 billion (Yahoo Finance, 2011).
Company has the global presence and introduces new products and segment cars according to the needs and demand of the customers and market conditions of a country. Company operates their business in all five continents and has 77 manufacturing companies in 27 countries of the world, which produce different luxury and segment cars, trucks etc. and the components. Company markets their vehicles in more than 170 countries worldwide with the help of consolidated workforce of approximately 320,000 people. Some models of Toyota such as Corolla and Prius are both manufactured and sold worldwide with the effective production and operation management (Toyota, 2011).
Production and Operation Management at Toyota
The production and management system of Toyota is very famous in many companies and widely recognized as the most efficient manufacturing system in the world. It is because Toyota uses different cost effective techniques in their production and operations that help the company to create effective production process for the products. In their production and operation management system, Toyota uses lean manufacturing and Just-In-Time technique that help the company to produce effective product in right time in right amount. The production and operation management system of Toyota is also helpful to produce best quality with lowest cost with shortest lead time that motivates customers to purchase products from Toyota (Gaspar, 2006).
The Toyota production system (TPS) helps the company to eliminate waste in the production system and help the company to create more effective and efficient production system. The most efficient system of Toyota applies ...

Solution Summary

This solution discusses production and operation management (including TQM) at Toyota. It also discusses the role of teams in Toyota's operations and the role of Team Leaders in managing effective teams. This solution also identifies several economic and natural crisis faced by Toyota and analysis the firm's ability to respond. This solution is approximately 1700 words.

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