What is a value chain?
The value chain is also referred to as the value chain or process chain. It describes how value is created by linking activities and how processes are derived from this. The value chain consists of primary activities and secondary activities.
The primary activities make a direct value-adding contribution to the creation of a product. These include:
- Inbound logistics
- Production
- Outbound logistics
- Marketing and sales
- Customer service
The secondary activities serve as supporting measures that are a necessary prerequisite for the creation of the products. These include:
- Corporate structure
- Human resources management
- Technology development
- Procurement
Logistics is an important part of the value chain in a retail company. Transport and storage costs can be reduced by efficiently managing the flow and storage of goods.
