Applying The 80/20 Rule To Your Inventory

The 80/20 rule, also known as the Pareto principle, simply means that roughly 80 percent of the effects of anything you might be doing come from 20 percent of the causes. For example, 80 percent of your sales are likely generated by about 20 percent of the items you carry or services you offer. Unsurprisingly, this simple little principle gives great insight into how your business works and also offers some pointers on how to manage your business better.

Provided by: American Express Topic: Start-Ups Date Added: Apr 2010 Format: HTML

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