Mathematicians developed Little's Law (which we discussed in last week's post) to solve a limited problem of measuring customer flow. The idea was to prove that you could calculate the average time spent by a customer at a location by dividing an average head count by the average arrival rate. But it turns out that this handy formula can be used to calculate the flow rate of any kind of inventory at all.
by Dr Will @ Iconic
Your humble narrator ... well ... your narrator recently attended a S.C.O.R.E. (Service Corps of Retired Executives) conference on marketing. On the top of the agenda - permeating the agenda - was social media.
Efficiency is like quality, not like quantity: it’s measurable, but it doesn’t have an absolute definition. It depends on what you’re trying to do, what can reasonably be expected, and how others are doing the same thing.