What is value chain?What is value chain?
The network of firms that bring products The network of firms that bring productsto market, from companies that produceto market, from companies that produceraw materials to retailers and othersraw materials to retailers and othersthat deliever finished products tothat deliever finished products toconsumer. Economic value is addedconsumer. Economic value is addedthrough the coordinated management of through the coordinated management of the flow of phisycal goods andthe flow of phisycal goods andassociated information at each stage of associated information at each stage of the chain.the chain.
We can say that a value chain is “aWe can say that a value chain is “astring of companies working together tostring of companies working together tosatishfy market demand”satishfy market demand”