Quite often, the terms value chain management and supply chain management are used interchangeably. While they overlap and are ultimately complementary, they are in fact two separate yet critical terms that impact your organizational success.
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Manufacturing value chain management (VCM) is the process of monitoring and managing all the components that comprise manufacturing, including procurement, production, quality control and distribution. It has gained prominence over the past couple of decades as business in general has gone increasingly global and the resulting competition has caused many companies to focus on their core competencies and outsource the rest.
Tags: Value Chain Management
