The resources of production are limited; therefore the companies must utilize their resources in the optimal manner. These days various techniques are used by the corporate houses to avoid wastage and make the best use of their resources. The traditional manufacturing which was prevalent in the past has shown various changes to make much more organized system today. Presently, we find much smaller batch sizes and shorter production cycles as far as assembly work is concerned. However the varieties of products and models which are being manufactured have increased to a great extent. Lean management is a popular technique to make the optimum use of resources. This concept is applicable to service operations along with the manufacturing operations. This system is the most suitable for the companies which wish to create an innovative look to their existing manufacturing system. The concept of lean management is strong enough to eliminate the need of sophisticated and expensive machinery and reducing the cost through the efficient system of manufacturing. This paper deals with the principles and methods related to lean management. Moreover, it has also been studied that how modern companies are using the lean management practices to utilize their resources to the fullest.

KEYWORDS: Lean Management, Manufacturing Operations, Problem Solving, TQM.