Please do fast

Acme Manufacturing is planning to manufacture and launch a new major high-end product line. The Supply Chain for this product is an "international" one, with suppliers in different countries. Part of designing the supply chain involves developing a coherent Sourcing strategy for a particular sub-assembly. This sub-assembly has a relatively low impact on the product cost and profit. However, it is assessed by management to have a relatively high risk of supply owing to the fact that there are very few suppliers, and some are located in risky countries. Acme's best strategy to address this is: Get into the business of mining this material to assure supply in the future O Standardize the procurement process and use a local decentralized procurement department to buy the material when needed, assuming it's available and at a good price. O Ensure supply availability through long term contracts and stocking up on inventory, thereby providing a hedge O Go out to bid among the suppliers via electronic auction among the different suppliers to get the least cost at the best terms