Differentiate between four key concepts-supply chain, value chain, integrated value chain and supply ecosystem.

A supply chain is a connected network of individuals, organizations, resources, activities, and technologies involved in the manufacture and sale of a product or service to fulfill customer orders; it starts with the delivery of raw materials and ends with the delivery of the finished product or service to the end consumer. Value chain is a business model that describes the full range of activities needed to create a product or service, these steps involve bringing a product from conception to distribution, and everything in between. An Integrated value chain is a process that increases customer-perceived value and optimizes the efficiency of the chain through a collaborative plan shared by multiple enterprises that implement and manage the flow of goods, services and information along with the value system. A supply ecosystem consists of the elements of the supply chain and the entities that influence the goods, information and financial flows through the supply chain.

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