Lean Thinking: Banish Waste and Create Wealth in Your Corporation. By James P. Womack and Daniel T. Jones.

"Muda. It's the one word of Japanese you really must know..." Written in a straightforward style, the book describes the main concepts of lean and gives specific manufacturing examples. Womack and Jones interview key people and examine benefits of conversions in a step-by-step manner. In the process, they explore the obstacles each organization overcame to reap the benefits of lean production.

The authors use case studies from a wide range of industries, to distill out the essential principles of lean and explain how to apply them in a variety of environments. They illustrate that lean is not just another buzzword or a quick fix. Lean Thinking definitively shows that it is a new way of thinking and a new way for running companies with benefits for everyone from the line worker to the CEO.

The ultimate goal, according to the authors, is the reduction of waste. To achieve this, a company must look at what creates value and eliminate all other activities.