Value Chain Notes: Definitions & Explanations PDF | Download eBooks
Study Value Chain lecture notes PDF with total quality management definitions and explanation to study “What is Value Chain?”. Study value chain explanation with TQM terms to review total quality management course for online MBA programs.
Value Chain Definition:
Value chain is a tool that disaggregates a firm into its core activities to help reduce costs and identify sources of competitiveness.
Managing Quality: Integrating the Supply Chain by S. Thomas Foster
Value Chain Notes:
A value chain is a systematic method to divide all the activities of an organization and explains their interaction with each other. A series of value chains make up a value system. The value chain of an organization consists of inbound logistics, core processes/operations, outbound logistics, activities of marketing and sales, and services including after-sale services. The name 'value chain' has been given to tis tool due to the fact that after going through the whole process, value is added to the product. The core operations are also called value activities because they are involved in the process of value addition (transformation from raw material to end product). Sometimes, value chains of firm and supplier work together to provide customers with a quality product.
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