Time-based Management is an aspect of Lean Production. It is a general approach that recognises the importance of time and seeks to reduce the level of unproductive time in an organisation. Benefits include:
- Quicker response times (reduced lead times) to meet changing market and customer needs
- Faster new product development
- Reduction in waste, therefore greater efficiency
For a firm to operate time-based management effectively, it needs to have flexible production facilities that enable it to make changes easily. For example, it may need to be able to switch production quickly between different products and to alter the length of production runs as needed.
As with other aspects of Lean Production, Time-based management also calls for flexible, multi-skilled staff, and a culture of mutual trust between workers and managers.