The Toyota Production System (TPS) was developed between 1945 and 1970 and it is still evolving today. The 1973 oil crisis hit Japan at least as hard as it hit America and Europe. By 1974, Japan's economy had collapsed to a state of nought growth. At Toyota Motor Company, although profits suffered, greater earnings were sustained in 1975, 1976 and 1977 than at other Japanese companies. The widening gaps between Toyota and other Japanese companies opened the eyes of others in Japan …
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showed last 75 words of 597 total
…implication over theoretical analysis. This system can play a great role in the task of improving the constitutions of the companies world-wide, especially those of the automobile industry. References Farr, Max. "Automobile Industry." Hoover's Online. Online. Internet. November 2001 J E Beasley (cited 7 July, 02). Just-In-Time. Available: http://www.ms.ic.ac.uk/jeb/or/jit.html Strategic Management , Sixth Edition, Charles W. L. Hill, University of Washington Gareth R. Jones, Texas A&M University