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make

or

buy

the decision by a firm on whether to make a component or product itself or to buy it from an external supplier (see OUTSOURCING). The decision will depend upon the combined production costs and TRANSACTION COSTS of the alternatives. Sometimes a firm may adopt mixes of the two policies, producing some quantity of the product itself and buying the remainder, depending upon the relative costs of the sources and security of supply considerations. See TRANSACTION for a more detailed discussion. See INTERNALIZATION, VERTICAL INTEGRATION.
References in periodicals archive ?
In the process, they were able to make sense of each other's thinking and obtain a correct solution.
Also, in spite of the teacher's rendition of the word basket and her mispronunciation of "saize" for "says" she was still able to make sense of the story by using good meaning-making strategies.
If we can't make sense of it, we don't have any information," she says.
It didn't make sense to send two salesmen to one customer," Dahlman says.