Operations have been playing an important role for building organizationsâ competitive advantage. However, in many situations, production strategy is not perfectly aligned to business strategy neither well implemented, thus the manufacturing potential is not fully explored. Sometimes, it is observed that the focus of the production strategy actions are based on improvement programs, which not always contribute to competitive advantage construction neither enhance its sustainability in a long term perspective. Considering that manufacturing strategy formulation and implementation is an important step to establish the operations and competitive priorities alignment, the present paper proposes a theoretical framework related to production strategy model. This study is limited to organizations that are applying lean production techniques. A theoretical analysis of lean production concepts as a model for operations strategy realization is developed. Content and process of the lean production model are considered under these perspectives. The approach adopted is related to three paradigms of manufacturing strategy: Strategic Choices, Competing through Manufacturing and Best Practices. Finally, it is possible to demonstrate that the lean production can be considered a model for production strategy realization.