How do you assess a value chain?

Value Chain Analysis Steps Determine the business' primary and support activities. Analyze the value and cost of the activities. Refer to your competitors' value chains. Understand your customer base's perception of value. Identify opportunities to gain a competitive advantage.

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Assessing the Primary and Support Activities in the Value Chain...

Miami-Dade Florida Assessing the Primary and Support Activities in the Value Chain Approach

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Small Business - Sales and Marketing

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Miami-Dade

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US-03012BG

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The value chain is a concept from business management. A value chain is a chain of activities for a firm operating in a specific industry. The business unit is the appropriate level for construction of a value chain, not the divisional level or corporate level. Products pass through all activities of the chain in order, and at each activity the product gains some value. The chain of activities gives the products more added value than the sum of added values of all activities.

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Identify Value Chain Activities The first step in conducting a value chain analysis is to understand all of the primary and secondary activities that go into your product or service's creation. If your company sells multiple products or services, it's important to perform this process for each one.

The purpose of value-chain analysis is to increase production efficiency so that a company can deliver maximum value for the least possible cost.

The primary activities of the value chain include inbound logistics, operation outbound logistics, marketing and sales, and service. Secondary activities or the support activities include firm infrastructure, human resources management, and procurement.

The primary activities in the value chain are those by which the company adds value to a product or service throughout its creation. A value chain maps the journey a product takes through different systems on its way to a consumer.

The value chain framework is made up of five primary activities -- inbound operations, operations, outbound logistics, marketing and sales, service -- and four secondary activities -- procurement and purchasing, human resource management, technological development and company infrastructure.

Value Chain Analysis Steps Determine the business' primary and support activities. Analyze the value and cost of the activities. Refer to your competitors' value chains. Understand your customer base's perception of value. Identify opportunities to gain a competitive advantage.

Value chain support activities do just that, they support the primary activities. The support, or secondary, activity generally plays a role in each primary activity. Such as human resource management, which can play a role in operations, marketing, and sales.

There are two approaches to the value chain analysis: cost and differentiation advantage, according to Strategic Management Insight.

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Washington, D.C. : Department of Health and Human Services, Public Health Service. (2006). Lamont-Doherty, J., & Kohn, D. A. (1996). Making health care more affordable for everyone: The role of insurance. Journal of Health Politics, Policy, and Law, 7(4), 339-364. Fanfare, D. R., Jones, G., & Haddock, V. (1982). A cost-effectiveness analysis of a community health insurance option and the New York City Medicaid pilot program. Public Health Reports, 87, 434-444. Leno, P., Schulz, R. R., Looms, R. L., & Smith, J. (1998). Health insurance coverage and the distribution of cardiovascular disease and cancer mortality among the uninsured. American Journal of Public Health, 88-93. Fiber, P. (1997). Cost-effectiveness of public health policy (Vol. 1, Supplement 2). Washington, DC: Institute of Medicine. Retrieved October 20, 2012, from. Lilly, J. (2001). Uninsured and under insured adult populations in the United States and the Netherlands. In Fuchs, J. & During, M. (Eds.

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Miami-Dade Florida Assessing the Primary and Support Activities in the Value Chain Approach

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