Comparing Toyota and Wal Mart

Hi All,

I completed reading "Toyota Way" couple weeks back. This book primarily describes the Toyota Production System, Toyota culture and why they are the best in what they do.

They strive to minimize inventory and eliminate waste and drive efficiency with Just in Time supply chain.

Comparing Toyota with Wal Mart, subject of my current reading, I am amazed by the differences and similarities in their business approach, thought processes and management philosophies.

First let me highlight some similarities.
1. Use of Technology:
a. Use them only when it will add value, eliminate waste and save money that will add to the bottom line and reduce purchase cost for customer.
b. Technology people will not work in their own silos without understanding business. IT work must improve business and the best way to do this is to spend time on the floor where the action happens.

2. How to work
a. People must be multi-skilled and must be ready to jump in to any role required.
b. Employees at all level suggest improvement ideas that are implemented as appropriate.
c. Do everything possible to attain Customer loyalty.

Let me continue with this tomorrow.