Pareto principle

  • Perform an Annual ABC Analysis to Find New Profits

    • March 6, 2024
    • Posted by: David Marshall
    • Category: Management, Productivity
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    An ABC Analysis involves the Pareto Principle where you identify your best-selling items and cut the lowest-selling items.

    According to the Pareto Principle (also called the 80/20 rule), you’re wasting a large portion of your time on items and customers that don’t actually have an ROI for you. That is, 20% of your customers bring in 80% of your results, and 20% of your inventory brings in 80% of your sales. Conversely, 80%

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  • How to Improve Your Workers’ Skills in the Digital Manufacturing Era

    • July 12, 2023
    • Posted by: David Marshall
    • Category: Digital Transformation, Productivity
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    Photo of a man measuring a piece of equipment. You need high skilled workers in digital manufacturing.

    A friend once told me a story: He worked for a software company as their sales and marketing director. This was a small company serving a small niche audience. The owner of the company insisted that my friend enhance his skills to cover different roles at the company. So he wanted my friend to learn

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