[BigV]

Model T

Legend has Henry Ford telling his minions to scour America’s junkyards to find precisely which parts of his popular Model Ts had broken down most often. When Ford’s team reported back, they told their boss that practically every part but one had failed: the kingpin. The kingpin was by far the Model T’s best-built and most reliable part.

Without hesitation, Ford instructed his managers to immediately cut back on the quality and investment in kingpin production. Why? He had instantly determined his Model T’s kingpins were wastefully over-engineered. If it doesn’t add value, Ford was fond of saying, “It’s waste.”