1. Vertical Integration: Companies that practice vertical integration control multiple stages in the value chain, from production to distribution. This allows for greater coordination and efficiency.
2. Horizontal Collaboration: Companies can collaborate with competitors or other companies in the same industry to share resources, knowledge, and technologies to improve their value chain.
3. Outsourcing: Companies can outsource certain activities in the value chain to third-party suppliers to reduce costs, increase flexibility, and access specialized skills and technologies.
4. Strategic Alliances: Companies can form strategic alliances with other organizations to share risks and rewards, develop new capabilities, and gain access to new markets or technologies.
5. Franchising: Companies can use a franchise model to expand their operations by licensing their brand and business model to independent operators who run their own outlets.
6. Supply Chain Management: Companies can improve the efficiency and effectiveness of their value chain by implementing supply chain management practices, such as just-in-time inventory management, demand forecasting, and vendor-managed inventory.
7. Lean Manufacturing: Companies can adopt lean manufacturing principles to eliminate waste, reduce lead times, and improve quality in their value chain processes.
8. Digitalization and Automation: Companies can leverage digital technologies and automation to streamline their value chain processes, improve decision-making, and enhance customer experiences.
Types of value chain governance?
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