Benefits include reduced costs, improved quality, shorter lead times, increased flexibility, and better customer satisfaction.

TQM is a management approach focused on continuous improvement, customer satisfaction, and employee involvement in quality control processes.

Predictive maintenance uses data analysis and machine learning to predict when equipment failure is likely to occur, allowing for maintenance to be performed before issues arise.

Factories can reduce energy consumption through measures such as upgrading equipment, optimizing processes, implementing energy-efficient technologies, and using renewable energy sources.

Key components include sourcing, production, inventory management, distribution, and customer service.