How are decisions made concerning operations, investing in specific projects while excluding others, make or buy manufacturing decisions, vendor/supplier selection, and pricing of products sold? Develop the decision process in the form of a flowchart for each of these decisions.

• While choosing between in-house production and outside supplier, explain how the risk and other related potential returns of investment play out.

• Explore the ITT Tech Virtual Library and the Internet to read about examples of companies moving from creating specific products to buying these from suppliers, and alternatively, moving from buying products from suppliers to manufacturing them in-house. Cite two examples of each type of movement.