Lean thinking is a management concept that takes its cue from management practices implemented by Toyota and eventually other members of the Japanese automobile industry in the 1980s. Manufacturers who implement Lean management do so with the goal of achieving operational improvement and cost reduction. While some firms keep to the initial focus of Lean, which is to improve internal efficiency, it can be extended to external suppliers as a way of coping with uncertainty within the supply chain. Lean Supply (LS) techniques are used to focus on external integration and extended value streams that bring value to products and services that help sustain value chains, while keeping businesses competitive.
Read more
