The Pareto curve (or effect) is always worth remembering ... remember it suggests that often 80% of the benefits can be achieved by applying 20% of the effort in any situation.
For example, 80% of your inventory value is probably represented by 20% of your inventory items. If you control these 20% effectively, you have 'control'.
80% of your turnover might come from 20% of your customers. Make sure you treat these customers well and learn from them.
Then think ... "Where else can I maximize my gains by focusing on the important 20%?"
For example, 80% of your inventory value is probably represented by 20% of your inventory items. If you control these 20% effectively, you have 'control'.
80% of your turnover might come from 20% of your customers. Make sure you treat these customers well and learn from them.
Then think ... "Where else can I maximize my gains by focusing on the important 20%?"
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