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Make or Buy Decision

This process helps in deciding the best options for onboarding new software.

Workflow template includes the following steps

Step 1 — Identify the product or service

Identify the product or service that needs to be made or bought.

Due Date

Output Field Conditions

Step 2 — Conduct cost analysis

Conduct a cost analysis to determine the cost of making versus buying.

Output Field

Step 3 — Evaluate other factors

Evaluate other factors such as quality, capacity, and timeframe.

Due Date

Output Field Conditions

Step 4 — Make the decision

Based on the analysis, make the decision whether to make or buy.

+3

Conditions

This workflow template can be used as is or edited, added to and expanded upon. You can delete steps you don’t need or add steps specific to the operations of your company.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

The Purpose of Make or Buy Decision

The ‘Make or Buy’ decision process is a critical business strategy that companies use to determine whether they should internally produce a product or service, or whether they should externally purchase it. This decision-making process is essential for businesses to optimize their resources, improve efficiency, and achieve their goals.

The primary benefit of this process is that it provides a systematic approach to decision making. It allows the company to consider all relevant factors, such as cost, time, capacity, and quality, before making a decision. This ensures that the decision is not based on assumptions or gut feelings, but on actual data and analysis.

Another benefit is that it helps in resource optimization. By understanding the cost and resources required for both making and buying, companies can make an informed decision that will optimize their resources. This can lead to cost savings and improved efficiency.

Furthermore, this process also promotes strategic thinking. It forces the company to consider the long-term implications of their decision. This can help the company align their decision with their overall business strategy and goals.

Lastly, this process also fosters collaboration and transparency. Since it involves different departments and stakeholders, it promotes open communication and collaboration. This can lead to better decision making and improved business performance.

Streamline your business process by deploying our library workflow template
and then customizing it to best meet your needs

Let Pneumatic Build a Unique Template for You

Pneumatic revolutionizes workflow management by leveraging AI to create custom workflow templates based on user-supplied prompts. Here’s how it works: you provide a brief description of the business process you need. Pneumatic’s AI algorithms analyze the prompt to understand the requirements, and specific tasks involved. Within minutes, a bespoke workflow template is generated in perfect alignment with your specific needs and requirements.

With Pneumatic’s AI-powered workflow template generator, you can engage in full-fledged business process discovery: just describe what’s going on at your company and Pneumatic will formalize it for you as a workflow template.

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for this business process based on your prompt

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You can further customize the generated workflow template by inviting team members and assigning tasks to them, setting deadlines for each workflow and task, and adding conditions and variables to direct the flow of execution and information through each workflow.

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