PPB January 2018

W hat is a global value chain? Most of us easily understand the concept of global supply chains becausewe use themevery day. They are the collection of suppliers scattered throughout theworld onwhichwe rely to source, manufacture and distribute our goods. They include manufacturers, materials suppliers, shippers and service providers that help us all towork together. On the other hand, global value chains encompass the full range of activities that firms and workers are involved in to bring a product or service from its conception to its end use and beyond. Global value chains go deeper and wider than global supply chains, and include the many workers whose often unseen contributions are critical to bringing a product to market. The better question we should ask is “Who is in a global value chain?” For promotional products, as for much of our economy, global value chains stretch throughout the United States and around the world. They start with your own coworkers and employees. Look around at the many people in your company who make your business run. The designers, sales team, administrative staff, computer programmers, custodial crew and bosses—all are part of your global value chain. Look further and you’ll see the same in the workforces of the vendors, suppliers and other partners that help make you successful—materials providers, finishers, delivery services, logistics professionals, financial institutions and so on. Wherever you sit, you are surrounded by an army that makes up your global value chain. Value, it seems, comes with many faces, skills, abilities, talents and personalities. But why is this It’s made up of the people who make your business run—and it’s under attack. by Steve Lamar Who Is In Your Global Value Chain? 74 | JANUARY 2018 | THINK