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What Is a Value Chain? Define Value Chain Management and List

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What is a value chain? Define value chain management and list the various functions along the value chain.


Definitions:

Evaluate

The process of examining something in detail to determine its value or worth, often used in the context of assessing projects or investments.

Direct Materials

Raw materials that can be directly traced to the production of a specific product or service.

Ending Inventory

The financial valuation of items for sale at the conclusion of a financial period, figured by starting with the beginning inventory, adding purchases, and then deducting the cost of goods sold.

Purchased

Refers to goods or services obtained by paying money or its equivalent.

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