Define Clear Decision Criteria: Clearly define the criteria that are most important to you or your organization when making a decision. This provides a framework for evaluating options and ensures that decisions are aligned with your goals and priorities. 

Embrace Divergent Thinking: Divergent thinking involves generating a wide range of ideas, perspectives, and solutions without judgment or criticism. Embrace divergent thinking by intentionally exploring different possibilities and letting go of preconceived notions or limitations. 

Supply Base Right Sizing: Overview and Importance: Supply base right sizing is the process of optimizing the number of suppliers in an organization's supply chain to achieve the right balance between supply risk, cost, and performance. It involves assessing and strategically adjusting the size of the supply base to ensure efficient and effective supply chain operations. 

Spend Analysis Provides Visibility into Procurement Spending: Spend analysis is a process that involves collecting, cleaning, categorizing, and analyzing procurement data to gain visibility into an organization's spending patterns. It helps organizations understand how and where money is being spent, identify areas of improvement, and make data-driven procurement decisions. 

TCO is a Comprehensive Cost Assessment: TCO is a comprehensive cost assessment method used in business and procurement to evaluate the total cost associated with owning, operating, and maintaining an asset or system over its entire lifecycle. It takes into account not only the purchase price but also all costs incurred throughout its life, including acquisition, operating, maintenance, and disposal costs. 

PDCA is a Four-Step Management Methodology: PDCA stands for Plan, Do, Check, Act. It is a four-step management methodology developed by Dr. W. Edwards Deming that is used for continuous improvement and problem-solving. The PDCA cycle is also known as the Deming Cycle or the Shewhart Cycle. 

Explanation: ABC analysis, also known as Pareto analysis or the 80/20 rule, is a technique used in inventory management and procurement to classify items based on their importance and prioritize them accordingly. Here are the top 10 facts about ABC analysis: