The document discusses Ford's Production System (FPS) which aims to employ lean and flexible production methods to consistently meet or exceed customer expectations for quality, cost and time. Key elements of FPS include effective work groups, zero waste, aligning capacity with demand, and optimizing production costs. FPS is part of Ford's overall strategy, called the One Ford Plan, to foster excellence, teamwork, and deliver results. The document also outlines some challenges Ford has faced such as increased costs, decreased demand, and restructuring efforts in response.