Answer to Question #199077 in Marketing for Sanjay Shrestha

Question

How do you differentiate the value chain from the supply chain? Elaborate on the scope and importance of studying value chain and supply chain on the marketing of agriculture goods.

Answer 1

Answers:

The supply chain is referred to as the flow of information, products, materials, and money between the many stages of developing and selling a product to the end customer. The supply chain is a notion from the standpoint of operational management. A value chain is a business phrase that refers to a company's entire iterative process for developing a product or service. The goal of value-chain analysis is to boost marketing of agriculture goods efficiency so that a company can provide the most value for the least amount of money.

The value chain is a notion in terms of business management. Value chain managers are always looking for methods to boost the bottom line. They might look for ways to cut down on shortages, plan new launches, and coordinate with others in the supply chain to give customers more value. Studying supply chain management equips agriculture producers to keep the marketing activities running smoothly in both normal and crisis scenarios.