Lean manufacturing is a production method aimed primarily at reducing times within the production system as well as response times from suppliers and to customers.. It is derived from Toyota's 1930 operating model "The Toyota Way" (Toyota Production System, TPS). The term "Lean" was coined in 1988 by John Krafcik in his article "Triumph of the Lean Production …

Definition. The Institute of Management Accountants (IMA) recently updated its definition as follows: "management accounting is a profession that involves partnering in management decision making, devising planning and performance management systems,and providing expertise in financial reporting and control to assist management in the formulation and …