Ask an expert: Growing and developing a value chain
Find out how important it is to be part of a value chain. Martin Gooch, Director of Value Chain Management Centre in Guelph, explains how you can make better-informed business decisions and reduce your costs.
- A value chain is all the elements in developing, producing, delivering and marketing food product to the consumer.
- Being part of a value chain can help you in identifying how to create value and reduce costs.
- Knowing what a customer wants, why they want it and what the final consumer is looking for can be easier as a member of a value chain.
- A sure way to improve business is to develop closer relationships with customers and suppliers – value chains help you do that.