value chain difference Essay examples

Words: 583
Pages: 3

Global Value Chain vs. Global Supply Chain Management
University of Phoenix
ISCOM / 383

What is a Value chain?
A value chain is a series of steps or chain of events that are involved in moving a product from thought to the consumer. In the value chain, each part of the process is documented to highlight the progress of the product throughout the chain. To ensure the end milestone is met, parameters are put in place to govern everything from gathering parts and supplies to manufacturing, delivery and distribution channels. When this value chain includes several companies or several stops and departments spread between different countries, this value chain is now global.
Global Value Chain
Global value chain is the interface between different countries, involving processes and global supply chain management involves the transportation of resources. “Tracing the shifting patterns of global production, understanding how GVCs work or are “governed,” and determining the roles they play in rich and poor countries alike, is what the study of global value chains is all about. GVC research consists of learning the details of jobs, technologies, standards, regulations, products, processes, and markets in specific industries and places.” (2006 Global Value Chains Initiative)
Global Supply Chain Management
Global supply chain management is the management process of supplies that are transported from an outside country. In supply chain management the milestones are measured by the ease of the flow of goods and resources that are depended upon by the company to bring a completed product to the consumer.
“The ability to receive and act upon complex information or instructions from lead firms requires a high degree of competence on the part of suppliers. Only then can the transfer of complex but codified information be achieved (as in modular networks) or intense interaction is worthwhile (as in relational networks). Where competent suppliers do not exist, lead firms either must internalize the function (hierarchy) or outsource it to suppliers that they tightly monitor and control (captive suppliers).” (2006 Global Value Chains Initiative)
In my company, Buy and Sell your Home NJ, we use global value chain. Global value chain is used in our relocation services division. In this division, our office in New Jersey coordinates moves (sales and purchases of residential and commercial real