Blog

Procurement Marketplace

Using Pareto Analysis to Save Procurement Time

By using Procurement Marketplace by Purchasing Platform you will never lose a second again doing unnecessary manual tasks.

The Pareto Analysis is a popular time management technique helps leaders to prioritize their tasks and decisions. Let’s say that you have a long list of tasks to be accomplished and a long list of goals to be met. Which one do you take up first? Ideally, your mind will tell you to focus on the most important problems first. But how do you decide which problem needs your attention most urgently?

This is where the Pareto Analysis swoops in like Superman. By using this technique, you can prioritize individual tasks that will most improve any given situation.

Pareto Analysis uses the 80/20 Rule – which essentially states that 20 percent of causes determine 80 percent of problems, and subsequently, results. Using this tool, we can find those 20 percent of tasks that will generate 80 percent of the results.

Procurement Marketplace
Procurement Marketplace

Using The Pareto Analysis

  1. Make a list of all the problems.
  2. Identify the fundamental cause of each problem.
  3. Score these problems according to how they will benefit you when you eliminate them.
  4. Group the problems. Put problems with the same root cause in the same group.
  5. Add the score for each group. The group with the highest score is your highest priority.
  6. Take action on the highest scoring problem and watch how some of the low scoring problems resolve themselves side-by-side.

The Pareto Analysis is being recognized as a remarkable way of saving your procurement time. At Purchasing Platform, we understand the value of your time. This is why we have taken extra care to design our eProcurement solutions in such a way that you can procure your requirements seamlessly in the most time-effective manner. With our Catalog Marketplace and Group Buying Platform, you will never lose a second again doing unnecessary manual tasks.

Check out our Guide to Purchasing Platform

Procurement Time Management

B2B Marketplace
B2B Marketplace

Our eMarketplace is built around the idea of saving time and costs to increase your productivity. This one-stop shop offers single sign-in and checkout, and more than 20+ vendors at a single procurement platform/Procurement Marketplace. All your procurement needs are taken care of by Purchasing Platform’s easy-to-use interface and mobile accessibility.

Go ahead, make life easier and focus on your business’ priorities with Purchasing Platform’s unmatched time-effective eProcurement Solutions.

Contact us using the form below to know more about Purchasing Platform

 

Summary
Using Pareto Analysis to Save Procurement Time
Article Name
Using Pareto Analysis to Save Procurement Time
Description
The Pareto Analysis is a popular time management technique helps leaders to prioritize their tasks and decisions. Let’s say that you have a long list of tasks to be accomplished and a long list of goals to be met. Which one do you take up first? Ideally, your mind will tell you to focus on the most important problems first. But how do you decide which problem needs your attention most urgently
Author
Publisher Name
Purchasing Platform
Publisher Logo