The current economic crisis has brought a downturn in almost every industry the world over. First the USA and its banking companies came across the subprime lending crisis leading to the fall of some leading financial institutions that had gone deep into the lending space without taking all the necessary precautions and becoming too liberal to lure the customers from the competitors. Then came the fall of an insurance giant. This had repercussions throughout the banking industry across Europe and Asia too. This was also felt by the banking industry in India.
What ever may happen in Toyota’s case, one thing is sure that minimum inventory is the way to go and that is one of the basic things Lean Management comprises of. Hence IT is time to be LEAN during the MEAN Economic crisis.