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Practicing Pareto practically in the warehouse

from By Ken Ackerman

From Oct. 30: One of the most useful rules in warehousing, as well as many other commercial activities, is the 80/20 rule, or "Pareto's Law." Vilfredo Pareto was a sociologist and economist whose books were published early in the 20th century. He taught that society, like physics, is a system of forces in equilibrium. One of Pareto's earliest observations was the fact that 80 percent of the wealth in Italy lay in the hands of 20 percent of the population. more


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