Discuss about the Development and Testing of Unified Proxy.
In this study, the concept of value chain is analyzed according to the various concepts. Basically, this report has been prepared according to a statement which depict about the concept of value chain and various other factors which are related to the value chain. In this report, value chain, cost estimation, value chain segment and the main purpose of the value chain has been analyzed.
Value chain is a common concept that lies over various operations and the activities of a company to maintain and deliver the products and the services of best quality to the customers (Miller and Mork, 2013). It helps a company to manage and assist into reducing the level of the cost through managing the value of every product. For the value chain analysis, it becomes important for a business to do market evaluation, provision analysis and production identification for a better result of value chain. The value chain research is mainly conducted by the companies to analyze the performance of the company and it also sets a good relationship among various financial and non financial factors of an organization (Fayard et al, 2012).
Normally, it is said that the value chain study is a kind of the framework and it is a style of the management which primarily makes a focus over the real worth of the business. Value chain motivates the people and the team to complete their assigned task properly and it also takes a concern of the environment and the culture of the organization.
Value chain analysis is quite useful for every business to maintain and manage the entire resources of the business and set them in such a manner that proper utilization of minimum resources could be done. Through this study, it has been found that value chain plays a crucial role in an organization to make a balance among various factors (Funk et al, 2010).
Value chain is a framework to make a balance in the organization and set the process of the business activities in such a manner that the issues of the business relates to the process, cost and other activities could be solved in no time (Monczka et al, 2015). Through this study, it has been found that the value chain could estimate the cost of a business through using the following process:
Value chain analysis evaluates the various activities of the company whether it is primary or secondary to analyze the better result of the company. Managers of value chain department are required to make an abetter decision about the activities after delivering the best work and the best process must be used to deliver the work (Miller and Jones, 2010).
The total cost of every product and services is different form each other and thus it is required by the managers to analyze the cost of each activity, Value chain analysis helps the management to identify that. The cost which occurred most of the time must be looked firstly by the management team of the company.
It is required for the management to analyze the cost driver of each cost to analyze and evaluate the better result about the company. Such as the labour cost must be allocated according to the labour hour so that it becomes easy for the manager to identify the total cost and unit per cost perfectly.
At the next level, company analyzed and make a decision about the setting relationship among various costs so that the way of cost reduction could be analyzed. The identification among the activities and the cost would help the organization to understand the improvement which could be done to reduce the level of the cost of the company (Gereffin and Sturgeon, 2013).
Lastly, managers and the company which handles the value management analyze the various opportunities and choose the best one and implement that to reach over a good conclusion. This would help the company to reduce the level of the cost and through it the company would become more profitable.
Through this process, it has been analyzed that a value chain manager must be updated and must be of initiative nature so that the opportunities could be grabbed by him or her at the perfect timing.
Value chain is a framework which is categorised into various segments to conduct a better strategy and the performance of the company. Through the analysis over the value chain segment, it has been analyzed that mainly the value chain analysis has been divided by the companies according to the primary activities and secondary activities. Following are the activities of the company. Through the given chart, it has been analyzed that how the company manages the value chain in a business.
Following are the ways through which company uses the above given activities in such a manner that the assistance could be taken by the managers:
Value chain analysis helps the operation management of the company to perform the activities of the business and the performance in a well manner while considering the cost factor as well (Johnson and Templar, 2011).
Value chain analysis helps the logistics management of the company to perform the business and the activities in a well manner while considering the cost factor as well.
Value chain analysis helps the procurement manager of the company to perform the business and the activities in a well manner while considering the cost factor as well.
It assist the organization to adopt the new policies and structure for the human resource management of the company and it considers the employment and manpower factor as well while making any decision (Gereffi and Frederick, 2010).
The study of value chain analysis has been done over Hawker Siddeley to analyze the purpose of the value chain of a company. Through the analysis over the Hawker Siddeley, it has been evaluated that the company used the analysis of the value chain to manage and make a control over the performance of the company (Centi, Quadrelli and Perathoner, 2013).
According to the annual report of the company, it has been found that it becomes easy for the company to maintain the figures according to the value chain analysis as it offers the highest result to the company and takes the consideration of the value chain in that. Company has reduced the cost of the activities and operations through the value chain analysis, further; it has also been found that the company add the worth of material used through various processes by converting them into finished goods, the overall objectives f the value chain department of the company is to deliver the highest value of the cost which is least and this has also helped the company to get the competitive advantages (Baldwin and Venables, 2010).
The value chain department of the company takes the help of the value chain process which is planning the vale chain activities, making the control over the value chain activities. Through this process the company achieves its goals and targets. Value chain management helps the company to get better result from the business and activities of the company.
Conclusion:
Thus through this study, it has been concluded that it assist the organization to adopt the new technology the activities of the company perfectly and with the help of the market and it also help them to reduce the level of the cost.
References:
Baldwin, R. and Venables, A.J., 2010. Relocating the value chain: off-shoring and agglomeration in the global economy.
Centi, G., Quadrelli, E.A. and Perathoner, S., 2013. Catalysis for CO 2 conversion: a key technology for rapid introduction of renewable energy in the value chain of chemical industries. Energy & Environmental Science, 6(6), pp.1711-1731.
Fayard, D., Lee, L.S., Leitch, R.A. and Kettinger, W.J., 2012. Effect of internal cost management, information systems integration, and absorptive capacity on inter-organizational cost management in supply chains. Accounting, Organizations and Society, 37(3), pp.168-187.
Funk, C.A., Arthurs, J.D., Treviño, L.J. and Joireman, J., 2010. Consumer animosity in the global value chain: The effect of international production shifts on willingness to purchase hybrid products. Journal of International Business Studies, 41(4), pp.639-651.
Gereffi, G. and Frederick, S., 2010. The global apparel value chain, trade and the crisis: challenges and opportunities for developing countries.
Gereffi, G. and Sturgeon, T., 2013. Global value chain-oriented industrial policy: the role of emerging economies. Global value chains in a changing world.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Johnson, M. and Templar, S., 2011. The relationships between supply chain and firm performance: the development and testing of a unified proxy. International Journal of Physical Distribution & Logistics Management, 41(2), pp.88-103.
Johnson, P.F., 2014. Purchasing and supply management. McGraw-Hill Higher Education.
Miller, C. and Jones, L., 2010. Agricultural value chain finance: Tools and lessons. Food and Agriculture Organization of the United Nations and Practical Action Pub..
Miller, H.G. and Mork, P., 2013. From data to decisions: a value chain for big data. IT Professional, 15(1), pp.57-59.
Monczka, R.M., Handfield, R.B., Giunipero, L.C. and Patterson, J.L., 2015. Purchasing and supply chain management. Cengage Learning.
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