In responding to the third emerging trend, while also ensuring that challenges highlighted in trend $1$ and trend $2$ are addressed too, you, as procurement specialist at Globalcast, have been approached to advise on a suitable procurement strategy, system, process and supplier selection criteria to utilise in engaging global suppliers preferred or $$approved$$ by Globalcast customers. As a team, analyse the case extensively and prepare a strategy document for consideration by Globalcast Executive Committee with your recommendations. focus on Contract Management using each trends below Trend $1$: Customers building factories in developing countries, leading to lower costs and a need for local supply factories.

Trend $2$: A demand for globally standardized designs, pushing for a single global low price and creating challenges with varying local costs.

Trend $3$: Increasing customer demand for value$-$added assembly work, requiring significant investment in assembly lines and related systems.