Understanding the Dynamics of the Value Chain

Implications for Practitioners

We hope the Contemporary model is useful in helping practitioners recognize the antecedents required for managing a value chain that can lead to competitive advantage. Those antecedents include leadership, culture, and in Jim Collins’ words, “getting the right people on the bus.” It is also important for practitioners to appreciate the critical role that external resources play in delivering customer value. Too often, executive-level management is unaware of the connection between productive supplier relationships and company success. Therefore, they don’t appreciate the value produced by the supply management component of the supply chain that not only contributes to competitive success but may boost profitability ...