What advantage does multiple sourcing provide to an organization?

Multiple sourcing offers significant advantages to an organization, particularly in diversifying risk among suppliers. When an organization relies on multiple suppliers for the same goods or services, it can mitigate the impact of disruptions that one supplier may experience, such as financial issues, natural disasters, or production delays. This diversification helps to ensure a more stable supply chain, as the organization is not overly dependent on a single source.

In contrast, relying on a sole supplier could lead to vulnerability if that supplier encounters challenges. Furthermore, having multiple suppliers can foster competition among them, potentially leading to better pricing and improved quality, as each supplier strives to meet the organization's needs to secure and retain business.

The other options do not accurately reflect the advantages that multiple sourcing provides. For instance, holding a monopoly on pricing would imply reliance on a single supplier, which contradicts the principles of multiple sourcing. Similarly, creating vendor lock-in suggests a lack of flexibility and dependence on one supplier, while ensuring standardized products may not be guaranteed as different suppliers might offer varied product specifications.