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More best practices from the European study (.pdf) …

Make-or-Buy Procedures

one way of organizing the team to make such [make-or-buy] decisions … an assembly of representatives from the finance department, technological department, and production department comes together to analyze the decision material and make a joint decision when considering make-or-buy alternatives. This way, the company avoids decisions based on assessments that sub-optimizes the performance of parts of the organization, but rather arrives at globally sound decisions.

If this could be extended to also include representatives from the development department, the approach could be seen as a variant of concurrent engineering, where the key principle is to make parallel and joint decisions.

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