Kaizen is focused on small improvements as a result of ongoing efforts of the company's staff members. On the other hand, innovation is focused on large, dramatic improvements as a result of big changes in technology and equipment.
Over-production can lead to various wastes other than inventories. Increasing in-process stock, waste of movement and wastes of transportation all add up quickly. Truly value-added work comes from having just enough of the right material, at the right place, at the right time. This is what Toyota calls “just in time!”