Wertschöpfungskette

Wertschöpfungskette, often translated as value chain, refers to the entire range of activities that a firm or an organization undertakes to bring a product or service from conception to market and beyond. This concept, popularized by Michael Porter, breaks down the business process into distinct, value-adding activities. It encompasses both primary activities, which are directly involved in the creation, sale, and delivery of a product or service, and support activities, which enable the primary activities to occur.

Primary activities typically include inbound logistics, operations, outbound logistics, marketing and sales, and service. Inbound logistics deals with receiving, storing, and distributing inputs. Operations transform inputs into the final product. Outbound logistics involves collecting, storing, and distributing the product to customers. Marketing and sales focus on convincing customers to purchase the product. Service includes activities that enhance or maintain the product's value after sale.

Support activities, on the other hand, include infrastructure, human resource management, technology development, and procurement. These activities do not directly create value but are essential for the smooth functioning of the primary activities. By analyzing its value chain, a company can identify areas where it can improve efficiency, reduce costs, or enhance its competitive advantage. Understanding the value chain helps businesses to strategically position themselves and to allocate resources effectively.