What types of organizational benefits does value chain management provide?
Benefits of Value Chain Management:
Value chain management is a business methodology that properly sequences, integrates, and optimizes the design, production, information, communication, marketing, delivery, and customer support processes in a company.
Answer and Explanation:
The most important organizational benefit that value chain management provides companies is that it strengthens the relationships companies have with their suppliers and their customers. Implementing value chain management yields greater visibility, improved decision-making, better communication, more accountability, and higher quality between companies and their suppliers and customers.
Another organizational benefit that value chain management provides is that with optimizing processes, wasted time and materials are reduced so, operational efficiency is improved. Also, with integrating processes, departments are able to work together better when needed so, organizational effectiveness is improved as well.
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fromChapter 2 / Lesson 9
Learn about value chains. Discover the steps of value chain analysis, study the benefits of value chain activities, and see examples of value chain activities.