At the turn of the century, Toyota Motor Manufacturing set a goal of being the number one car manufacturer in the world by 2010. In April 2007, the company reached that goal, three years ahead of schedule. But the truth is that Toyota has been the top automaker for many years, when judged by more important measures such as market capitalization, quality, sales growth, and profitability. In fact, it is not uncommon for Toyota's annual net profit to exceed that of the traditional Big Three carmakers combined. Why the success? Simply put, it's the Toyota Production System....
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