Successful Value Chain Management - Assignment

Added on - 21 Jul 2020

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SUCCESSFUL VALUECHAIN MANAGEMENT
Table of ContentsSUCCESSFUL VALUE CHAIN MANAGEMENT.....................................................................1MAIN BODY...................................................................................................................................1Requirements of the successful value chain management..........................................................1Value chain analysis....................................................................................................................2Advantages and disadvantages of value chain............................................................................3REFERENCES................................................................................................................................5
SUCCESSFUL VALUE CHAIN MANAGEMENTIn today's world the organisation needs the successful value chain management to getdeveloped and gain many types of advantages. It makes them to increase their performance leveland eventually increase their market share. There are many steps which are followed in thisprocess. Properly following all the steps makes the company to gain competitive benefits. Thereare some requirements which are to be followed in the value chain management (Christopher,2016). Analysing the value chain makes the company to adopt some measure for the reduction ofcost, reducing wastes, increase in profits etc. However, there are some advantages anddisadvantages which are carried in the value chain.MAIN BODYRequirements of the successful value chain managementThere are many requirements which are necessary for the successful value chainmanagement of the business such as Marks and Spencer. It is very much helpful in makingstrategies and policies for the company. Those requirements of the successful value chainmanagement are as follows:ResearchIt is the first step which is to be followed for the value chain management. In this theorganisation have to do proper research on the tastes and preferences of the customers. It will beeffectively and efficiently done with the technique of market analysis (Gereffi and Fernandez-Stark, 2016). It will also make the business to find out better suppliers for the raw materials.Design of the productIn the second step, once the product is analysed, then it should innovated with the thingswhich are wanted by the customers.Process of productionAt the third step company needs to adopt the best production process. This will makethem to produce all the products and services with quality.Marketing and salesNow the organisation needs to adopt the most suitable technique for the marketing. Bythis they can promote all the products in the market. This will grab the attention of customers. Itwill eventually lead the company to increase their sales (D'heur, 2016). Profits and income of the1
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