As the auto industry moves into its second century, it suffers from low margins and a sclerotic value chain that cannot evolve with customer desires. Inventories of many weeks pile up on dealer lots and at distribution centers around the world while executives applaud marginal improvements in...

Toyota and Volvo have traditionally been viewed as anchoring two extremes of production models that companies in the automotive and other manufacturing sectors draw upon. The ‘Toyota (Lean) Production System’ drove superior organizational learning, innovation, and control with positive...