X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Foreign exchange (FX) is a growing concern for more than 50 percent of companies around the globe. That’s why an increasing number of businesses are now incorporating process improvement practices—such as Lean, Six Sigma, and kaizen—into their financial risk management processes.

These methodologies, now widely used in all kinds of businesses, were originally used by manufacturers, most notably Toyota. The Toyota Production System (TPS) popularized the idea of taking a strategic approach to managing manufacturing operations with the goal of saving time and money. A flow of production based on Henry Ford’s assembly line, the TPS model helped Toyota make major strides in productivity and propelled the company into the global market. Other corporations began to follow suit and apply the principles to their own businesses. Ultimately, the TPS philosophies influenced development of the modern principles of Six Sigma and Lean production.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.