There are many good reasons for not having second sources (at the top of the list "there aren't any") but you're right. Sourcing, second or first, has to be set up in advance. Purchasing can't be allowed to buy just anything.
It can be worse than that. The problem could be found six months after it goes into production.
I think the major reason for the death of big corporations is the
*lack* of decision making. It really is hard to kill a cash cow, but someone will. That's why big corporations love government intervention. It keeps upstarts from going around killing cows.