Value Chain Management (VCM)
Definition - What does Value Chain Management (VCM) mean?
Techopedia explains Value Chain Management (VCM)
VCM was introduced in the mid-1980s by Michael Porter, a business strategy authority and longtime Harvard Business School professor. VCM has evolved into a universally applied business management strategy, and is a powerful strategic planning tool that extends from organizations to distribution and supply networks.
VCM requires the following components:
- Integrated chain strategy, planning and scheduling
- An efficient supply chain
- Full and interdependent chain resource management and optimization
- Integrated customer insight data and information