USE OF THE 80/20 RULE IN METALLURGY

1 BALON Petr
Co-authors:
1 BUCHTOVÁ Jana
Institution:
1 VSB - Technical University of Ostrava, Ostrava, Czech Republic, EU, petr.balon.st@vsb.cz, jana.buchtova@vsb.cz
Conference:
26th International Conference on Metallurgy and Materials, Hotel Voronez I, Brno, Czech Republic, EU, May 24th - 26th 2017
Proceedings:
Proceedings 26th International Conference on Metallurgy and Materials
Pages:
2098-2103
ISBN:
978-80-87294-79-6
ISSN:
2694-9296
Published:
9th January 2018
Proceedings of the conference were published in Web of Science and Scopus.
Metrics:
41 views / 17 downloads
Abstract

The paper describes practical application of the 80/20 rule (also well-known as Pareto´s rule) in heat treatment processes of metallic materials. The principle of the 80/20 rule is based on the study of Italian economist and sociologist Vilfredo Pareto. At the end of the 19th century, Pareto defined a mathematical formula which reflected unequal distribution of wealth and expressed the fact that about 20 percent of population owned 80 percent of wealth. This idea was further developed by many of his followers and nowadays it is widely recognized as a principle of measuring effectiveness. The 80/20 rule represents a very useful analytical technique which helps to clearly specify key areas of focus. The goal of this paper is to introduce its practical application in heat treatment processes of metallic materials in the chosen company.

Keywords: 80/20 rule, segmentation, customer, product, heat treatment
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