Assignment 5.docx

Assignment 5.docx - Assignment 5 Gilberto Guerrero April...

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Assignment 5 Gilberto Guerrero April 12 th , 2017 1. Explain how the Pareto rule is important to a small business owner. Think of this in terms of core competencies and/or product offerings. The Pareto rule could be very helpful to small businesses by helping increase productivity. For example, if employers focus on certain tasks that are part of the critical 20% that will produce those 80% of results. The Pareto rule could also help to fix and and identify problems. For example, a Pareto chart could be really useful for focusing on important problems so that one may determine which problems have the biggest effect on the outcome of a certain situation. 2. Aside from reducing inventory levels, what does the just-in- time philosophy promote? Research and write about a specific example. It promotes less space needed to store things that you currently do not need because you already have the amount necessary. It also helps smaller companies who do not have the funds to purchase large orders of stock at once. I work at a restaurant so from personal knowledge my
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