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Procurement Terms

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Make v Buy
Make-or-Buy, sometimes referred as outsourcing, is a decision on whether to manufacture a product in-house or to buy from an external supplier. The decision considers the costs and benefits of doing in-house or externally and comparing the two. The final decision of a Make v Buy should scrutinize both the total cost and wider strategic business benefits. Whilst the wider strategic benefits may be difficult to quantify, they often are the considerations that have the most weight.
Related terms:
Acquisition Cost Cost Driver Analysis Gap Analysis PEST / PESTLE / STEEPLE Offshoring Porter’s Five Forces Model Sourcing Spend Analysis Supply Market Analysis SWOT Analysis Value for Money Total Cost of Ownership (TCO)
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