Toyota Production System (TPS)
Toyota Production System (TPS) is the philosophy organizing manufacturing and logistics at Toyota, including the interaction with suppliers and customers. TPS is known more generically as Lean manufacturing. It was largely created by three men: the founder of Toyota,...Throughput Costing
Throughput Costing counts only unit-level costs as the cost of a product or service. All other costs of resources used are counted as operating costs (or expenses). The throughput (under throughput costing) is sales revenue minus all unit-level spending for direct...Takt Time
Takt Time is the available production time divided by the rate of customer demand. For example, if customers demand 240 widgets per day and the factory operations 480 minutes per day, takt time is two minutes; if customers want two new products designed per month,...Muda
The Japanese (or Lean Thinking) word for waste or any activity that does not add value to the customer. Other Definitions Muda – Anything that interrupts the flow of products and services through the value stream and out to the customer is designated muda – or waste....The Building & Remodeling Wiki Sponsors:
