MNP3701 Assignment 5 (ANSWERS) Semester 1 2023 Answers, guidelines, workings and references..... ...................................................... QUESTION 1 [3 MARKS] Explain the difference between a value chain and a supply chain. Provide specific examples from the operations of Toyota South...
QUESTION 1 [3 MARKS]
Explain the difference between a value chain and a supply chain. Provide
specific examples from the operations of Toyota South Africa to illustrate the
difference. In your answer, you should demonstrate a critical understanding
of the interrelated activities involved in each chain and how they contribute to
the creation and delivery of value to customers.
The value chain and the supply chain are two distinct concepts that play vital roles
in the operations of a company like Toyota South Africa.
Value Chain: The value chain refers to a series of activities that a company
undertakes to create and deliver value to its customers. It involves a sequence of
interconnected activities that transform inputs into outputs, adding value at each
stage of the process. The value chain includes both primary and support activities.
Primary activities in the value chain include inbound logistics (receiving, storing,
and distributing inputs), operations (converting inputs into final products),
outbound logistics (delivering finished products to customers), marketing and sales
(promoting and selling products), and service (providing after-sales support).
Support activities in the value chain include procurement (sourcing inputs),
technology development (research and development, process innovation), human
resource management (recruiting, training, and development of employees), and
firm infrastructure (planning, finance, and other administrative functions).
For example, in the case of Toyota South Africa, the value chain would involve
activities such as procuring raw materials and components from suppliers,
manufacturing vehicles, distributing the finished vehicles to dealerships, marketing
and selling the vehicles to customers, and providing after-sales services like
maintenance and repairs. These activities collectively contribute to the creation and
delivery of value to customers.
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