Distributors, manufacturers, and retailers often stock thousands of products. Properly managing the physical inventory and replenishment of these items is a challenging task. While most buyers and salespeople realize that not all items are equally important to customers or their company, it is often difficult to identify those products that demand the most attention.
About a hundred years ago, an Italian economist, Vilfredo Pareto, conducted some research on income distribution in Italy. He found that 80% of the income was earned by 20% of the people. You may find this interesting, but you may wonder at the same time: What does this have to do with separating your stock from your stuff? Well, other academics did some further research and found that, in general, 80% of the ...
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Distributors, manufacturers, and retailers often stock thousands of products. Properly managing the physical inventory and replenishment of these items is a challenging task. While most buyers and salespeople realize that not all items are equally important to customers or their company, it is often difficult to identify those products that demand the most attention.
About a hundred years ago, an Italian economist, Vilfredo Pareto, conducted some research on income distribution in Italy. He found that 80% of the income was earned by 20% of the people. You may find this interesting, but you may wonder at the same time: What does this have to do with separating your stock from your stuff? Well, other academics did some further research and found that, in general, 80% of the ...
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