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English definition of “value chain”

value chain

noun [C]     PRODUCTION, ECONOMICS
the series of stages involved in producing a product or service that is sold to consumers , with each stage adding to the value to the product or service : We want recycled materials to reenter the value chain as raw materials .
the series of companies involved in the different stages of producing a product or service that is sold to consumers , with each stage adding to its value : China is pushing hard to move up the value chain in manufacturing .
(Definition of value chain noun from the Cambridge Business English Dictionary © Cambridge University Press)
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