Value Stream: The combination of actions required to deliver value to the customer as products and services
Value Network: The links between an organisation and its strategic and non-strategic partners that form its external value chain
Values Chain: A model for analysis of how supply chain activities inside and outside an organisation can add value to products and services delivered to the customer
Virtual Organization: An organisation which uses information and communications technology to allow it to operate without clearly defined physical boundaries between different functions. It provides customised services by outsourcing production and other functions to third parties
Information systems can support increased efficiency of the upstream and downstream supply chain because: Information systems support sharing of information between members of the upstream and supply stream chain. The main implications of this are:
- shorter cycle times for product development and order fulfilment;
- lower inventory levels for manufactured products;
- closer match between product characteristics and customer requirements through improved market research.