CUSTOMER VALUE

Customer ValueStudent’s Name:
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Customer value is entailed in two aspects which include perceived and the desired value. The perceived value consists of the benefits that customers believe they attained after purchasing products. The desired value entails what the customers wish for in given products. Logistics ensure that there is a proper and efficient flow of the goods and services and even the necessary information from the origin’s point to the consumption point mainly to meet the needs of customers (Coyle et al., 2006).
Logistics play a significant role in the creation of the customer value by mainly ensuring that there is a proper plan, implementation, and control of the supply chain in meeting demand and needs of customers before and after the purchase of a product. Through the logistics, there exists the array of activities which help in keeping the existing customers to be more satisfied which include monitoring the levels of the customer service (Coyle et al., 2006). From the production to distribution of any product to the customers, logistics ensure that the process is carried out efficiently to enable the customers to attain the necessary satisfaction they need thus creating the customer value.
80/20 Pareto Law means that in any given situation, activities or even the inputs amounting to 20 percent is the most vital cause for the results which add up to 80 percent (Sobaca Limited, 2010). In business, the Pareto 80/20 law means that there is need to evaluate the 20 percent attributes of the customers in the business which makes up the significant part of the business’ earnings.

Through this, it is easy to invest one’s time mainly in identification and qualification of the similar customers while at the same time maximizing the revenues of the business. For any business to be successful, you need all the 100 percent. It, therefore, helps any business owner to focus on the few business goals which are considered to be the most critical when it comes to the success of the business. The law does not only save time but also improve business earnings. Due to this reason, I agree with 80/20 Pareto Law.
References
Coyle, J. J., Bardi, E. J., & Langley, C. J. (2006). The management of business logistics: A supply chain perspective. Mason, Ohio: South-Western/Thomson Learning. Retrieved from: https://www.britannica.com/topic/logistics-business
Sobaca Limited. (2010). Achieve more with Pareto’s law. Luton: Andrews UK. Retrieved from: https://www.thebalance.com/pareto-s-principle-the-80-20-rule-2275148