Final answer:
TPS stands for the Toyota Production System, a system developed by Toyota focusing on continuous improvement and efficiency in manufacturing.
Step-by-step explanation:
The acronym 'TPS' stands for the Toyota Production System. This is a highly efficient production system developed by Toyota that is focused on the continuous improvement, efficiency, and elimination of waste in manufacturing processes. The TPS is well-known for its two main pillars, namely 'Just-in-Time' (JIT) production and 'Jidoka' (automation with a human touch). It is foundational to what is often referred to as 'lean manufacturing' and has been widely adopted and adapted in various industries across the globe to improve productivity and quality.