A Supply Chain Management Guide to Business Continuity by KILDOW Betty A

Author:KILDOW, Betty A.
Language: eng
Format: epub
Published: 2014-05-02T02:35:40.327000+00:00

Identifying Critical Suppliers

In the early 1900s, Italian economist Vilfredo Pareto created a mathematical formula to describe the unequal distribution of wealth in his country: 20 percent of the people owned 80 percent of the wealth. Today, the Pareto Principle (also called the 80-20 Rule) has a wide range of business applications, such as:

20 percent of a company’s stock takes up 80 percent of its warehouse space

80 percent of sales comes from 20 percent of the sales force

20 percent of an organization’s staff causes 80 percent of its problems

20 percent of an organization’s staff provides 80 percent of its production

20 percent of the risks to an organization result in 80 percent of its disasters

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