Cambridge Business Association
The Lean Turnaround
Book

The Lean Turnaround

How Business Leaders Use Lean Principles to Create Value and Transform Their Company

Art Byrne
McGraw-Hill, 2012
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Author Art Byrne, operating partner at the private equity firm J.W. Childs Associates, has been implementing Lean management at various firms for more than 30 years. He discusses how to make the most of Lean’s benefits, including improved profitability, efficiency, productivity and savings plus increased enterprise value. Byrne explains that Lean tactics can transform any service company or factory, but stresses that traditional executives often oppose it. That’s one reason, Byrne says, that fewer than 10% of Lean adoptions succeed. He includes savvy recommendations on how your firm’s Lean proponents – who must include your CEO – can bypass naysayers and make the most of Lean’s streamlined methods.

Summary

Lean management evolved from the Toyota Production System.  

Companies must add long-term corporate value to dominate their rivals and succeed. To increase value, they must eliminate waste and institute continuous internal improvement – the two hallmarks of Lean management. However, adopting Lean practices often requires a significant corporate transformation.

The pioneer in this type of management was the Toyota Motor Company. Its Toyota Production System (TPS) became the model for Lean management and, over time, it has helped Japanese organizations earn their reputation for operational efficiency. TPS is the legacy of industrial engineer Taiichi Ohno. He and his Toyota colleagues invented the techniques used in Lean management as they worked to design a system for simplifying business processes.

Reduced to its basics, Lean involves four fundamentals:

  1. Take the necessary time – In German, “takt” is a musical term for “beat” or “measure.” With takt time, you pace your work to match the speed of your customers’ demands. Going faster is wasteful...

About the Author

Art Byrne, the operating partner at the private equity firm J.W. Childs Associates, also wrote The Lean Turnaround Action Guide.

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