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Related Terms

Voice Search
User-Generated Content
Up-Selling
Time-to-Market
Taxonomy
Supply Chain
Supplier Onboarding
Suppliers
SKUs
Site Search
Search Engine Optimization (SEO)
Return Rate
Return Policy
Product Page
Product Experience (PX) Strategy
Product Experience Management (PXM)
Product Experience
Product Discovery
Product Catalog
Product Bundling
Omnichannel Experience
Natasha’s Law
Multichannel Commerce
Manufacturers
Hybrid Shopping
eCommerce
Distributors
Digital Transformation
Digital Shelf
Cyber Monday
Customer Experience
Cross-Selling
Conversational Commerce
Brick-and-Mortar
Brands
BOPIS
Black Friday
B2C
B2B

Value Chain

A value chain refers to the necessary and consecutive processes a business goes through to deliver a product or service to the market, from its initial creation to its finished form to the customer. For example, a car manufacturing company’s value chain might include:

  • Inbound logistics: Receiving steel, tires, aluminum, and electronics from suppliers.
  • Operations: Assembling the car parts like engines and interiors into the final product.
  • Outbound logistics: Distributing the completed product to customers.
  • Marketing and Sales: Running advertising campaigns and auto shows.
  • Service: Offering warranties, services like maintenance, and providing customer support.

Businesses can propel to greater success as a value chain allows them to identify areas for improvement, optimize processes, and reduce waste which leads to better efficiency. It also helps to save money as procurement, logistics, and operations can be analyzed to better control costs. And with the service and after-sales support component, customers are satisfied and have a better experience.

A value chain relies on accurate, consistent information which is where PIM and ERP come in. Both systems can help businesses streamline their value chain through the centralization and enrichment of product information.

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