"Vertical integration is an arrangement in which the supply chain of a company is integrated and owned by that company."
When a company controls the entire supply chain, from production to distribution.
"It contrasts with horizontal integration, wherein a company produces several items that are related to one another."
"Vertical integration and expansion is desired because it secures supplies needed by the firm to produce its product and the market needed to sell the product."
"As in the 1920s when the Ford River Rouge Complex began making much of its own steel rather than buying it from suppliers."
"One method of avoiding the hold-up problem is through vertical integration."
"A monopoly produced through vertical integration is called a vertical monopoly."
"Vertical in a supply chain measures a firm's distance from the final consumers."
"Usually, each member of the supply chain produces a different product or (market-specific) service."
"It contrasts with horizontal integration, wherein a company produces several items that are related to one another."
"Vertical integration and expansion can become undesirable when its actions become anti-competitive and impede free competition."
"Vertical integration and expansion is desired because it secures supplies needed by the firm to produce its product and the market needed to sell the product."
"The Ford River Rouge Complex began making much of its own steel rather than buying it from suppliers."
"It secures supplies needed by the firm to produce its product and the market needed to sell the product."
"Vertical integration and expansion can become undesirable when its actions become anti-competitive and impede free competition in an open marketplace."
"In vertical integration, the supply chain of a company is integrated and owned by that company."
"A monopoly produced through vertical integration is called a vertical monopoly."
"Vertical integration has also described management styles that bring large portions of the supply chain under a common ownership."
"It contrasts with horizontal integration, wherein a company produces several items that are related to one another."
"Vertical integration is one method of avoiding the hold-up problem."
"A firm that sells directly to the consumers has a vertical position of 0, a firm that supplies to this firm has a vertical position of 1, and so on."