Toyota Essay Example | Topics and Well Written Essays - 500 words

Toyota - Essay Example However, the suppliers’ competency is one of the current long term objectives of the Toyota (â€Å"Helping Suppliers Compete†). The TMC believes that the steady and long term relationship with suppliers would be beneficial for the company to spawn mutual benefits through mutual trust. The company has also formulated specific strategies to augment the competitiveness of its suppliers in the auto-manufacturing marketplace. For instance, as reported (in â€Å"Helping suppliers compete†), the company’s annual purchasing policy sets certain annual performance expectations for customers in some specific areas such as quality, delivery, cost, and supplier diversity; and in addition, the company dispatches experts to work with suppliers when they struggle to meet their annual expectations. Mitigation of environmental impact of automobiles is another long term objective of the company (â€Å"our stance on biofuels†). Nowadays, consumers are increasingly conc erned about the issues like global warming and green gas emissions. It has been identified that fuel combustion in vehicles contributes to environmental issues. Therefore, the company has made certain sets of environmental leadership core principles with intent to amplify the future growth.