Which of the following BEST describes the value chain?
A) The minimising of inventory levels to reduce storage, insurance and finance costs
B) All activities that contribute to the continuous improvement of business operations
C) A management information system which tracks the costs of products through the manufacturing process
D) The whole sequence of activities that adds value to a company's products and services

Question

Quizplus · Accepted Answer

The value chain refers to the whole sequence of activities that add value to a company's products and services, from the initial sourcing of raw materials through to the final delivery to customers. The value chain concept was introduced by Michael Porter in his book "Competitive Advantage" and has become a widely used framework for analyzing a company's activities and identifying opportunities for cost reduction and differentiation.

Which of the Following BEST Describes the Value Chain