Toyota Accelerates

Toyota Accelerates - Corporate News: Toyota Accelerates Its...

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Corporate News: Toyota Accelerates Its Cost-Cutting Efforts --- Amid Push to Return to Profit, Auto Maker Asks Suppliers to Help Reduce Parts Expenses by 30% Within Three Years By Yoshio Takahashi 23 December 2009 TOKYO -- Under pressure from a second straight year of losses, Toyota Motor Corp. is making a renewed push to produce cars more efficiently and at lower costs, as part of the auto company's efforts to return to profitability despite a stronger yen and waning government incentives in key markets. The world's biggest car maker by volume told suppliers at a meeting Monday that it wanted them to help the company reach its goal of slashing the cost of auto parts by 30% in the next three years, a person familiar with the matter said. The Japanese company has set more aggressive cost-cutting targets under a program called RRCI, which combines two cost-reduction initiatives currently under way, the person said. RRCI stands for "Ryohin (quality), Renka (low-price), Costs and Innovation." Toyota has been following a "Value Innovation" cost-reduction plan for new car models
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This note was uploaded on 01/30/2011 for the course 620 300 taught by Professor Gordon during the Spring '10 term at Rutgers.

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Toyota Accelerates - Corporate News: Toyota Accelerates Its...

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