The issue of the supply chain has been given much attention in recent decades, both in the academic arena as well as in the business world. It has become so important that organizations have begun to directly manage the supply chain, appointing specific managers to perform this function. New challenges now include a focus on supply to determine the right time and place for product delivery (Chin et al., 2004; Robinson and Malhotra, 2005).
Each value adding activity is considered to be a source of competitive advantage. As for the trading industry value chain analysis are as per below diagram.
Each operation, company, organisation, employer have one not unusual intention that’s to transform their inputs into outputs. these transformation is actualized by means of following a procedure that ought to constantly be taken into consideration. these procedure is known as the four V’s which might be volume, variety, version and Visibility.
Volume refers to how a great deal enter is required to satisfy the call for, mismanagement of quantity ought to result in over/beneath production. KCH Industries
Variety refers to a number of product made by using a company , we hardly locate firms which have a massive sort of products because it might cause negative HR specialization while much less variety might lead to less difficult operations and even widespread items a good way to be produced vastly.
Version refers to how the extent of demand modifications through the years. quite a number of things make it difficult to are expecting variation and that’s why nowadays firms need a client analysis report on their goods or offerings.
Visibility refers back to the extent to which the operation process of the commercial enterprise is visible.