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The Lean Business Guidebook


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Table of Contents

1. Why is lean accounting vital for a company? 2. Revolutionizing the manufacturing operations: Toyota Production System 3. The lean way of doing business 4. Who should lead the implementation of lean strategy? 5. Bid adieu to standard cost accounting, welcome lean accounting 6. Lean measures for a lean company 7. Value stream costing 8. Plant capacity assessment 9. Corporate scorecard 10. Lean Performance Measurement System 11. Finance for non-finance 12. New role of Finance Team 13. Budgeting 14. Business plan review 15. Lean ERP for Lean Accounting 16. Reduction in transactions 17. System assessment/audit 18. Lean transformation journey of Perfect Gear Company Index

About the Author

MJS Bindra is a turnaround specialist who is uniquely qualified to transform multinational or regional companies, large, medium, or small, into lean enterprises. He is a professional engineer with MBA in marketing and finance from BITS Mesra and advanced management from IIM Ahmedabad. He has more than forty-five years of experience working with global organizations and thought leaders from diverse industries and fields. In his formative days, he underwent long tenure technical training in the world's leading companies like Wean United USA, Muller Weingarten Germany, Schloemann Siemag Germany, and Sumitomo Corporation Japan. He developed his skills in Toyota Production System at Komatsu Career Corporation, Japan in the year 2000 and visited many Japanese companies including Toyota, Komatsu, Nippon and Sumitomo Corporation. The concept of daily management was matured during his tenure with Kaizen Institute. The lean accounting principles were adapted after being trained under Brian Maskell, the USA who was at the forefront of inventing the concept of Lean accounting.MJS Bindra has held director-level positions in sectors as diverse as capital machine-building, steel industry, electric resistance welded (ERW) tubes, and cold-drawn tube industry. He had supported and implemented lean and kaizen implementation in these companies with a focus on training executives and leaders at all levels. Ekroop Kaur is an accomplished Chartered Accountant (ICAI) and CPA (Australia). She started her corporate career with Vodafone and has also worked with Bharti Infratel Ltd. and Avery Dennison India Ltd. While commencing her stint in Avery Dennison, a renowned manufacturing company which mostly uses traditional standard cost accounting methods, discovered MJS Bindra. After meeting him, she realized that she had already been using snippets of Lean in her previous roles and was curious to learn more. Her learnings from the corporate world about the value of customer experience, challenges in dynamic industrial environments, the role of finance in major investment decisions, and the importance of immaculate internal procedures and operational processes are what shaped her perspective.

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