make

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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 classic literature ?
'I have never brought myself to mention it openly to you, Mr Headstone, and you're my witness that I couldn't even make up my mind to take it from you before we came out to-night; but it's a painful thing to think that if I get on as well as you hope, I shall be--I won't say disgraced, because I don't mean disgraced—but-- rather put to the blush if it was known--by a sister who has been very good to me.'
He informed that Textiles and Apparels employ 38% of industrial workforce with 8.5% share in GDP and make up for more than 70% of our exports with leather and made ups, for many international brands.