"The Machine That Changed the World," as a study at M.I.T. called it, isn't the telephone or even the automobile. It's the devastatingly efficient assembly-line method called the Toyota Production System (TPS), which has revolutionized the way factories are run worldwide. Few people have done more to perfect "the Toyota Way" than chairman Hiroshi Okuda, 71, and president Fujio Cho, 67, with a combined 93 years at Toyota between them. Toyota's first two CEOs not to hail from the company's founding Toyoda clan, Okuda and Cho have taught hundreds of companies the TPS secrets of eliminating waste, reducing defects and maximizing...
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