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. Analyse the case extensively and a strategy document for consideration by Globalcast Executive Committee with your recommendations.

50 marks with references.