What is a decision to make a component internally versus through a supplier?

Question

Quizplus · Accepted Answer

The decision to make a component internally versus through a supplier is a make-or-buy decision. This decision involves weighing the costs and benefits of producing the component in-house versus outsourcing it to a supplier. Factors that may be considered include the cost of raw materials, labor, equipment, and overhead, as well as the supplier's quality, reliability, and delivery time. Ultimately, the best choice will depend on the company's unique circumstances and goals.

What Is a Decision to Make a Component Internally Versus