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Value chain (VC)

A model that considers 

how supply chain 

activities can add value 

to products and services 

delivered to the customer.

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Chapter 6  Supply chain management

mirroring the physical value chain. The virtual value chain involves 

electronic commerce used to mediate traditional value chain activities 

such as market research, procurement, logistics, manufacture, market‑

ing and distribution. The processing is  machine‑  based or ‘virtual’ rather 

than  paper‑  based. Human intervention is still required in many activi‑

ties but the ‘virtuality’ of the value chain will increase as software agents 

increasingly perform these activities.