The article presents a new approach to productivity improvement in a manufacturing company, based on a rich collection of concepts, methods and techniques in the scope of production management. Productivity improvement is a complex technical-organizational-social undertaking, implemented in order to improve the performance of the entire enterprise. This approach assumes continuous productivity improvement in all phases of the design and operation of the production system. The strategic, comprehensive approach towards productivity improvement is currently becoming more and more important; it is expressed in striving for the implementation of contemporary, complex management concepts. The result of the analysis is a prepared productivity improvement methodology taking account of new production paradigms, among others: Lean Manufacturing, Lean Logistics, Agile Manufacturing, Total Productivity Maintenance, Theory of Constraints as well as Dynamic Process Management. The summary emphasizes the importance of preparing a new productivity improvement methodology for improving production management practices focused on productivity growth.