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The increasingly complex world of business creates significant challenges for the management of the flow of work activities that add value at each stage of the supply chain. Value chain management is the process of organising the connected group of activities that create value by producing goods or services from the raw material stage to purchase by a consumer. The underlying rationale for an integrated value chain management approach is to increase the opportunity for cost savings, better customer service, and competitive advantage for all companies in the supply chain. Therefore, value chain management is increasingly important to government, stakeholders and companies in competitive markets across a variety of sectors. A key outcome of value chain management is the integration of communication and increased cooperation between demand and supply chain members.
The aim of this subject is to develop an advanced understanding of the role of value chain management in contemporary business practice. It aims to clarify the interrelated concepts of supply and value chain management and provide an understanding of the value chain stakeholder network. The subject also focusses on enhancing measurement skills that underpin analysis of the different elements of the value chain network as well as creating and maintaining value, reducing costs, and ensuring effectiveness and efficiency to create a competitive advantage.