Word of the Week: Value Chain
Value chain* refers to the step-by-step processing of a raw material to turn it into the final product. At each step in the process, the work done to the input adds value to the material. Agricultural value chains are an example the work done by EWB. An example of agricultural value chain is with grain. [...]
Value chain* refers to the step-by-step processing of a raw material to turn it into the final product. At each step in the process, the work done to the input adds value to the material. Agricultural value chains are an example the work done by EWB. An example of agricultural value chain is with grain. The steps might be harvesting the grain, collecting the grain from several small farms (aggregation), processing the grain into flour and bringing the flower to market.
*In the interest of semantic fidelity, our webmaster, a real stickler for precision of language, would like to note that technically speaking, “value chain” is, in fact, two words.
