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Value Chain Management
Value Chain
Management
What is Value Chain
Management?
Value Chain Management, commonly
abbreviated as VCM, as the name
suggests, means the efficient
management of the value chain.
Value chain means all those activities, that
add value to a product of the company.
Therefore, Value Chain Management
means the integration of all those
resources which can add utility to the
product’s value.
Which all resources may be integrated?
Info-
Materials Labour Logistics VCM
rmation
Requirements of VCM
Coordination Attitude and
and Culture of Technology
Collaboration Organization Investment
Human Quality Organizationa
Resources Leadership l Process
Components of a Value Chain
Primary Activities:
The primary activities consist of the
following five components:
1. Inbound Logistics: Receiving and Inventory
managing.
2. Operations: Converting raw materials into
finished products.
3. Outbound Logistics: Distribution of
product.
4. Marketing and Sales: Advertising and
targeting appropriate customers.
5. Service: Product maintenance, repair,
refund, exchange etc.
...contd.
Support Activities:
When you increase the efficiency of
support activities, it in turn increases the
efficiency of the primary activities.
1. Procurement: Concerned with the
procurement of raw materials.
2. Technology Development: Necessary for
the research and development stage.
3. HR Management: Hiring and keeping the
employees for various activities of the
firm.
4. Infrastructure: Includes planning,
accounting, finance and quality control.
Components of VCM
Primary Activities Support Activities
Input Operat- Outbound Marketing
logistics ions logistics and Sales Service
HR
Procure- Tech. Infra-Develop- Manage-
ment ment ment structure
Benefits of Value Chain
Management
The Value Chain
Management brings Flow
several benefits to of
the firms and fin
companies that an
ce
apply this principle Flows of
practically. It is one Information
the most essential
mechanisms which
makes the company Flow of
a valued one in the materials and
eyes of the society products
I. Flow of Materials and Products
The efficiency of a company depends upon
the rate of flow of products to the customers.
The products will flow quickly only if the raw
materials flow quickly.
This means that there should be efficient
management of the cycle of demand and
supply.
Therefore, if the Value Chain is managed
efficiently, the demand will always be
fulfilled by the supply, and there will be an
efficient and improved flow of materials and
products.
II. Flow of Information
There is always a demand for more and
more information by the customers, be
it something regarding the company or
queries related to products.
Therefore, there should not be any
hindrances in the way of the flow of
information.
Efficient Value Chain Management
removes the resistances and delays to
the flow of information.
III. Flow of Finances
The Value Chain Management is less
about flow of products and more about
flow of cash.
VCM helps the companies to assess
their current position on the outgoing
and incoming cash.
It helps them to optimize and capitalize
on various weak points that may cause
damage to the them.
Conclusion
The Value Chain Management system is a
great analyzer for the weak and strong
links in a company. It helps the
organizations identify new methods of
taking advantage from the market
opportunities. The VCM, in this world of
unpredictable economies, can be the
most useful tool for optimizing the flow of
information, products and finances, thus,
taking the company to newer and higher
levels.
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