Adding Value Through Supply Chains
Objective 7-8 Explain how a supply chain strategy differs from traditional strategies for coordinating operations among firms.
The term supply chain refers to the group of companies and stream of activities that work together to create a product. A supply chain (or value chain) for any product is the flow of information, materials, and services that starts with raw-materials suppliers and continues adding value through other stages in the network of firms until the product reaches the end customer.
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