The value chain helps companies control costs of products only.

Question

Quizplus · Accepted Answer

The value chain helps companies not only control costs but also improve product quality, increase efficiency, and develop customer relationships. It involves a series of activities that add value to the products or services, from the procurement of raw materials to the delivery to customers. By analyzing each stage of the value chain, companies can identify areas for optimization and create a competitive advantage.

The Value Chain Helps Companies Control Costs of Products Only