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The Shingo Prize – dubbed by Business Week as the "Nobel Prize of Manufacturing" – was launched at event held at the House of Commons, hosted by The Manufacturing Institute - who will be administering the award in the UK and Ireland.

The philosophy of the Shingo Prize is world-class performance in quality, cost and delivery can be achieved through the application of lean principles and techniques across the whole business enterprise.

Julie Madigan, CEO of The Manufacturing Institute stated, "In addition to recognising productivity and business success, The Shingo Prize is also viewed as a catalyst for organisational change. As a result it can also act as an enabler for individual career acceleration within those companies."

Madigan further commented: "With world leading manufacturers in the UK, such as BAE Systems, we should be celebrating the phenomenal successes of those organisations and encouraging other businesses around the UK to adopt their working practices through the Shingo Prize model."

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