Toyota in 2004: Managing Innovation in the New Millennium

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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

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Case Details:			Price:
Case Code	:	BSTA025	Electronic Format: Rs. 300; courier (within India):Rs. 25 Extra Themes -
Case Length	:	11 Pages
Period	:	2000 - 2004
Organization	:	Toyota
Pub Date	:	2005
Teaching Note	:	Not Available
Countries	:	Japan
Industry	:	Automobile

Abstract:

Japanese car maker Toyota, the strongest player in the global automobile industry, is set to overtake Chrysler in sales to become one of America's Big Three. Toyota's success is the result of rapid product development, world-class manufacturing, obsessional devotion to customer satisfaction and the quest for continuous improvement.

In recent times, Toyota has been revamping its ordering, manufacturing and distribution to make it easier for dealers and customers to make changes just before production. Reducing lead time will not only improve customer satisfaction but also cut dealer inventory and the need to offer rebates for slow-selling vehicles.

Toyota is also focusing on product innovation to effectively serve niche segments with specialised requirements. The company is striving to improve its styling and designs, even as it continues to make the product development process more efficient. Will Toyota be able to build further on its competitive lead?

Keywords:

Process innovation, Toyota, Big Three, Built to order demand, Logistics, Streamline, Global body shop, Product innovation, Lexus, US, Japan, Automobile industry, Global ten objective, Prius, GM (General Motors)

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