A few tips on the selection process; a) Look at the vendors track record for EOL processes, b) look at parts that are in the "young" end of their lifecycle yet mature enough to have gained popularity, c) look at parts with broad adoption, talk to your disti's to get info on which parts have lots of customer/design wins, d) identify and design in/qualify alternative parts wherever possible on the front end, often simple design tweaks will allow your production pcb to support alternative parts, and where possible, get those alternative parts listed in your compliance reports, e) learn what the suppliers supply chain looks like, are they fabless, are they on "mainstream" fab processes or on legacy (for example, 8" wafers). f) for high risk parts, place long term orders to secure the supply chain (with a trusted disti, this could be a chapter in itself). Finally (actually, firstly), do a bit of risk analysis. How long is the expected lifecycle, what is the engineering cost of redesigns, the compliance cost, revenue risk.