value chain

This term is primarily used in business management and strategic planning to describe the internal processes of a firm. It emphasizes the additive nature of production, where each step—from raw material sourcing to final customer service—is viewed as a link that increases the product's worth.

In a corporate context, the term is often contrasted with the "supply chain." While a supply chain focuses on the movement of goods from supplier to customer, the value chain focuses on the strategic activities that create a competitive advantage by maximizing efficiency and value creation.