Value Chain I
This term refers to the series of activities that add value to a product, from its conception to its final delivery.
What is the value chain?
This is the term for the activity that includes advertising, promotion, and sales force management to bring products to customers.
What is Marketing and Sales?
This term describes the network between a company and its suppliers to produce and distribute a specific product to the final buyer.
What is a supply chain?
This strategy involves focusing on unique aspects of the value chain to gain competitive advantage.
What is differentiation?
This is the primary purpose of the value chain in a business context.
What is to create value for the customer?
This value chain activity focuses on maintaining and enhancing the value of the product after it has been sold.
What is After-Sales Service?
This supply chain process involves the procurement of goods and services from external suppliers.
What is sourcing?
This strategy involves offering a cheaper mousetrap than your competitors. The low cost is made possible by operating more efficiently.
What is a low cost strategy?
This activity adds value by improving the product or process before it reaches the customer. It is the stage in the value chain is where products are tested, packaged, and prepared for distribution.
What are operations?
This term refers to the support activity that provides infrastructure, human resource management, technology development, and procurement.
What are Support Activities?
This is the first step in the supply chain process, involving obtaining raw materials.
What is sourcing or procurement?
This type of analysis uses historical data to make forecasts about future events or trends.
What is predictive analysis?
This primary activity in the value chain involves the processes of receiving, storing, and disseminating inputs to the product
What is inbound logistics?
This support activity in the value chain focuses on improving products and processes through innovation.
What is technology development?
This entity within the supply chain is responsible for delivering raw materials to manufacturers.
What is a supplier?
This results in designing the organization’s activities so they reinforce one another in achieving the selected strategic position.
What is synergy?
This part of the value chain is responsible for distributing the final product to customers.
What is outbound logistics?
This primary activity in the value chain includes functions like management, legal, finance, and strategic planning, supporting the entire firm’s operations.
What is firm infrastructure?
This term refers to the strategic movement of goods and materials between locations in the supply chain.
What is logistics?
This support activity in the value chain focuses on recruiting, training, and developing employees to ensure a company has the talent and skills needed to succeed.
What is Human Resources?