General Introduction about Toyota
Toyota Motor Corporation is one of the best companies in Japan and also in the world. They are a big player in the automotive industry as one of the oldest and most experienced manufacturers. Nowadays they are in charge of producing several lines of cars that are sold all around the world. They are known as a very innovative company, especially their experience with hybrid-cars. When it comes to revenue, it is considered to be 13th biggest corporate in the world and they also have around 360,000 employees that work for them. In 2012, Toyota shocked everyone by being listed as the biggest manufacturer of vehicles in the world by production. They managed to overtake two major players such as GM and Volkswagen.
It is an extremely competitive industry. Companies must remain in their toes to efficiently use their resources and capabilities to offer the most ideal products into the market. Demand is changing due to various factors. There are many substitutes to the offered cars and also hybrid and electric sector is becoming highly demanded as well. There are trends towards more eco-friendly vehicles. Having good relationship with suppliers can also bring Toyota a key competitive advantage in this regard. Diversifying the customer base and having different geographical markets also helps Toyota to diversify their income source. Toyota is focusing its activities towards cost reduction strategies, improving safety and quality, improving the efficiency of cars and making them more environmentally friendly and exploring new markets. With more than 50% market share in the hybrid car sector, Toyota is dominating this sector of the industry thanks to their flagship Toyota Prius car. Toyota’s CEO believes that Toyota should focus on sustainable growth and must look in long term to develop an attractive line of products, that are safe, qualitative and eco-friendly. He also highlights the importance of the stakeholders such as employees who do an amazing work for Toyota and
It supports them with warehouse management, with supply and inventory management and overall effective and efficient way of running things
The Toyota Production System (TPS) is another tool created and used by Toyota. It manly manages the interaction with stakeholders, specifically customers and suppliers. The system has already brought Toyota a lot of benefits.
Another important system and technological integration of Toyota is Vuepoint learning system (Knowledge management system) which offer transferring market data and valuable information related to revenue and marketing and sales to all sale points of Toyota. It has helped to boost revenue, speed to market and productivity as well as fast distribution of content. This system has won several awards globally.
Relevant Stakeholder