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One of the key elements of the value chain is outbound logistics. In order to gain a competitive edge, the goal of the value chain is to provide the most value at the lowest cost.
What are a value chain's five main tasks?
The value chain framework consists of four secondary activities, procurement and purchasing, human resource management, technological development, and business infrastructure, in addition to five primary activities: inbound operations, operations, outbound logistics, marketing and sales, and service.
Why is a value chain called that?
The process by which companies acquire raw materials, add value to them through production, manufacturing, and other processes to produce a finished product, and then sell the finished product to customers is referred to as the value chain.
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