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It is created by maximizing the added values and eliminating or minimizing waste.
Value is the increase in quality / feature of product, by a particular company in S.C.M. example tyres supplied to Toyota by General tyres.
In S.C.M. value is created by more than one company working together on a single product / service. example payment of utility bills through bank. If bank refuses to collect bills then customer will face problems.
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