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What Is the "80/20" Rule,and How Does It Apply to Total

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What is the "80/20" rule,and how does it apply to total quality management?


Definitions:

Marketing

The activities and processes for creating, communicating, delivering, and exchanging offerings that have value for customers and society at large.

Monetary Price

The specific amount of money required to purchase a product or service.

Supply Chain Manager

A professional responsible for overseeing and managing a company's overall supply chain and logistics strategy to maximize efficiency and productivity.

Customer Relationship Management (CRM)

A technology-driven approach to managing a company's interactions with current and potential customers.

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