Value Chain Models
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What are three value chain models? How does the application of these models differ for supply chain management? How do you determine the most appropriate value chain model to use under a given set of circumstances?
about 300 words, no references
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Solution Summary
The solution details three value chain models, i.e. Lean Value chain, Porter's Value chain and Eliminate, Raise, Reduce and Create (ERRC) Grid. A total of around 400 words with the references has been provided.
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A few of the value chain models include:
a) Lean Value Chain You can get more information for this on the following website: http://www.qad.com/Public/Documents/empowering_lean_value_chain.pdf
b) Porter's value change model focuses on two main areas and activities, i.e. primary and support activities. Porter explains that the primary activities have a direct impact on the business and can be classified into five main heads, "inbound logistics, operations, outbound logistics, marketing and sales, and service". In terms of the secondary or support activities, these include, "procurement, technology development (including R&D), human resource management, and infrastructure". Porter explains that the support activities are ...
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