which term refers to the network that links together the different aspects of the value chain and coordinates materials, information, and funds from the initial raw-material supplier to the ultimate customer?

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26-10-2022
Business

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which term refers to the network that links together the different aspects of the value chain and coordinates materials, information, and funds from the initial raw-material supplier to the ultimate customer?

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ANKITANAND ANKITANAND · Answer 1 · 2022-10-30T03:11:08-04:00

The network connecting the various components of the value chain and coordinating materials, data, and funds from the initial raw material supplier to the final customer is referred to as the supply chain.

What is value chain?
From a product's initial design to its delivery to a customer, there are a number of sequential steps that make up a value chain. The supply chain identifies every stage of production, including the sourcing, production, and marketing phases, where value is added. A business analyses its value chain by analysing the specific processes involved in each stage of its operations. A value-chain analysis' goal is to boost production efficiency in order for a business can provide the most value for the least amount of money.

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