1. The Toyota Production System (TPS) is a systematic approach to eliminating waste from all aspects of production. Its goal is to add value for the customer through the most efficient production methods.
2. The Toyota Way consists of 14 principles for lean manufacturing, including basing decisions on long-term goals, continuous process flow, eliminating overproduction, and developing exceptional people.
3. Toyota's core values that guide its work are genchi genbutsu (go to the source), kaizen (continuous improvement), challenge, teamwork, and respect for others.