Answer (C) is correct . The supply chain usually encompasses more than one firm. Firms seeking to improve performance and reduce costs must analyze all phases of the supply chain as well as the value chain.
Answer (A) is incorrect because The value chain is a model for depicting the way in which every function in a company adds value to the final product.
Answer (B) is incorrect because Product chain is not a meaningful term in this context.
Answer (D) is incorrect because Value process is not a meaningful term in this context.
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