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According to WallStreetMojo.com, “a supply chain is a network of entities that source raw materials, transform them into finished goods, and then distribute or sell them to customers. In contrast, a value chain refers to creating or adding value to the end product at every step, from conception through production to delivery and support” (Supply Chain vs Value Chain, 2021).
This means the difference between the supply chain and value chain is that supply chains deal with the production and distribution of the product. While, a value chain adds value to a product at each step of the process, including planning, designing, development, and delivery. The supply chain has nothing to do with adding value to the final product.
In order for them to function properly, both types of chains require management skills. However, the types of management styles differ, operational management is used for supply chains, whereas value chains require business management.
The public often use supply chain and value chain synonymously, despite the fact that the two terms are entirely different. Both types of chains have a few departments in common, like marketing and operations.
Supply chain managers are concerned with creating goods or services, manufacturing, transporting it to a place of sale, and selling it.
Value chain managers look for opportunities to add value. They will look for ways to cut back on stockouts, product planning, and working with others in the chain to add value to the customer.
