Question

After product specifications are set, a company must decide whether to purchase or manufacture the parts that it needs. This is called a(n) _____ decision.

Answer 1

The decision for manufacturing a product or buying a product from the market is called as make or buy decision.

What is make or buy decision?

When the companies has product speicifications and for various products company needs to take financial decisions is known as make or buy decision.

Under this decision process if the company is incurring less cost in making the parts of the product within the company as compared to buying the product from the market. Then the company will take make decision instead of buy decision.

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