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 periodicals archive ?
Shadow Scottish Secretary George Robertson described him as "a discredited Prime Minister in charge of a bitterly divided party who makes day trips to rubbish Scotland's constitutional aspirations".
"We came into this tournament with a higher level of expectation than we've had before and that is what makes days like this so disappointing.
WHEN a club has had as many ups and downs as Coventry RFC has had over the last 20 years, in truth more downs than ups, it makes days like last Saturday all the more special and poignant.