Lean production is an approach that focuses on eliminating waste to ensure quality. It involves doing simple things well, continuous improvement, and involving employees. The goal is to cut costs by reducing various types of waste like overproduction, waiting times, unnecessary transport and motion. Key aspects of lean production include just-in-time delivery from suppliers, cell production, simultaneous engineering, time-based management and continuous improvement through kaizen. Effective lean production requires good supplier relations, skilled employees and a culture of quality and change.