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Toyota Attacks Costs
CEO Akio Toyoda has launched a major cost-cutting effort at Toyota Motor Corp. to improve the company's profit margins, Reuters reports.
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CEO Akio Toyoda has launched a major cost-cutting effort at Toyota Motor Corp. to improve the company's profit margins, Reuters reports.
Toyota is revamping some factories so that they can be more quickly reconfigured during model changes, according to the news service.
It says the company also aims to slice vehicle development costs by more than one-fifth, in part by the greater use of common parts.
The news service says Toyota intends to use kaizen, its strategy of steady incremental improvement, to increase the profitability of its manufacturing operations. But analysts tell Reuters the company needs more drastic action to cut factory costs.
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