29 Jun MRKT 310-Value chain-discuss how each channel in the product
Question
Value chain. discuss how each channel in the product or service offering adds value to the customer it have to be about Five Guys Burger and fries.
The reading for this question:Today, the term value chainis sometimes used interchangeably with the term supply chain. The idea behind the value chain is that your supply chain partners should do more for you than perform just basic functions; each partner should help you create more value for customers as the product travels along the chain—preferably more value than your competitors’ supply chain partners can add to their products.
Zara, a trendy but inexpensive clothing chain in Europe, is a good example of a company that has managed to create value for its customers with smart supply chain design and execution. Originally, it took six months for Zara to design a garment and get it delivered to stores. To get the hottest fashions in the hands of customers sooner, Zara began working more closely with its supply chain partners and internal design teams. It also automated its inventory systems so it could quickly figure out what was selling and what was not. As a result, it’s now able to deliver its customers the most cutting-edge fashion in just two weeks (Smith, 2008).
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