The 80/20 business process
The 80/20 BP is a proven approach to increasing profits in a sustainable way. In almost all successful applications, we have at least three things in common: (1) 80/20 thinking, (2) a sequence of implementation (simplify first) and (3) specific tools and methods (the 80/20 Toolbox). The implementation cycle is a coherent succession of phases that have worked well together over time: (A) analytics, (S) simplification, (F) focus, and (G) growth. It’s not a coincidence that it can resemble the Deming or the PDCA (plan, do, check, and act).