Buy custom Succeeding with 80/20
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| Topic: |
Business
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| Number of pages / Number of words: |
5 / 1170 |
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Instead, they decided to focus on reducing the complexity in their processes and systems. The authors of the article do not provide specific metrics XYZ used to: identify which overhead costs to focus on, which processes for process reengineering, or which 20% of products/tasks contributed to 80% of their revenues...
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One key area was product line simplification. Using the 80/20 rule, the company focused on the products that generated the most revenues and dropped or outsourced other products. Another area of focus was on organizational structure. In order to improve quality and communication among all levels of employees, the company decentralized by aligning their products by business units and placing support staff within the business unit...
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