The Pareto Principle – or the Law of the Vital Few – is also commonly referred to as “The 80-20 rule.” For many businesses, 80% of their sales can be attributed to 20% of the items they sell, or to 20% of the customers they sell to. These 80/20 rankings can be incorporated into ABC Analysis, leading to a more effective inventory planning and management process.
This very actionable presentation will include numerous real-world examples of the impact of 80/20 rule, along with the 7 steps required to run & regularly update your ABC rankings, and 10 innovative tips for how to apply ABC Analysis to manage what matters.
Bill Whiteside
Bill Whiteside is a principal in Demand Solutions Northeast, which markets and supports the Demand Solutions suite of forecasting and supply chain management software in the Northeast U.S. After purchasing the software and using it for 3 years while serving as director of marketing for a dairy products manufacturer, Bill made the ultimate product endorsement by quitting his job and founding Demand Solutions Northeast in 1990. Prior to working with Demand Solutions, his real-world experience included 14 years of consumer goods marketing. Bill is a graduate of the University of Notre Dame and a member of APICS and the IBF.
