Lean Manufacturing Problem Solving Process Excellence

The Pareto Rule and Analysis: Understanding the 80/20 Principle

The Pareto rule, also known as the 80/20 principle, is useful for analyzing and improving a wide range of systems, processes, and products. This principle states that 80% of the effects come from 20% of the causes. This concept can be applied in various areas, including business, finance, and personal life. In business, the Pareto rule is often used to identify the key drivers of revenue, costs, and customer complaints. Organizations can prioritize their efforts…

Continue reading

Process Excellence

SWOT analysis

SWOT analysis is a powerful tool that can help businesses identify their strengths, weaknesses, opportunities, and threats. This information can then be used to make strategic decisions and set goals to help the business achieve its objectives. This blog post will discuss SWOT analysis, how to conduct a SWOT analysis, and how to use the information gathered to make strategic decisions. What is SWOT analysis? SWOT analysis is a framework that helps businesses identify the…

Continue reading