Prevent PO Approval / Submission - based on Business Classification

Summary:

Hi all. We have an ask to restrict purchasing for Suppliers who are missing or have expired business licenses.

My first thought was to use "Business Classifications" for these categories.

Appears on the Supplier dashboard

Use of alerts / pre-alerts as we approach expiry dates

But on researching this came across these options

1. Page Composer and display a message to the end user - informational and can be bypassed
2. Manually place and remove the Suppliers from hold - risk of timely action here as well as impact to inflight purchases.
3. Create a custom scheduled process to Add / Remove Holds based on Business Classification and suppliers updated say sysdate - 1 or last run date.