Pareto Analysis: A Tool Every Industrial Engineer Should Master
Introduction to Pareto Analysis Pareto Analysis, a strategic tool founded on the observations of Italian economist Vilfredo Pareto, has garnered significant importance in the domain of industrial engineering. The foundation of this analysis lies in the Pareto Principle, often encapsulated in the widely recognized 80/20 rule. This principle asserts that a substantial portion of effects—typically […]
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