A value chain is the managing of the network of facilities and people that obtain materials from outside the organization,transform them into products,and distribute them to customers.

Question

Quizplus · Accepted Answer

A value chain refers to the series of steps a company takes to transform raw materials into a final product, adding value at each stage, but it does not specifically refer to the management of the network of facilities and people. That description aligns more closely with supply chain management.

A Value Chain Is the Managing of the Network of Facilities