Define the Term Value Chain and Briefly Discuss the Purpose

question 16

Essay

Define the term value chain and briefly discuss the purpose of the supply chain component in a manufacturing organization.

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Definitions:

Entities

Any definable units, such as individuals, organizations, or objects, that exist independently with distinct characteristics.

Data Points

Individual units of data, often numerical, that represent a specific measurement or piece of information in a broader data set.

Cardinality

In databases, a term that indicates the nature of the relationship between two entities, showing how many of one entity type are related to one of another.

Entity

An individual, company, organization, or system that has a distinct, separate existence for legal or business purposes.