What is Value Chain Value Chain Definition, its Management and Analysis

Let us start this topic with the understanding of What is Value Chain? http://www.aims.education/study-online/what-is-value-chain-definition/. A value chain is a set of activities that a firm operating in a specific industry performs in order to deliver a valuable product or service for the market, and also defined as "A high-level model of how businesses receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers". Aside from the Value Chain Definition, there are some other aspects of supply chain management that should be highlighted in this lecture.