A value chain refers to the full range of activities that businesses go through to bring a product or service from conception to delivery and beyond. This includes design, production, marketing, distribution, and support to the final consumer. In the context of Value Stream Management, we often talk about value streams, which are similar but not identical to value chains. While the terms value chain and value stream are sometimes used interchangeably, they have distinct meanings. A value chain is a broader term that encompasses the entire process of adding value to raw materials through various stages until the final product is sold to the end customer. A value stream, on the other hand, is more specific to the steps and processes within an organization that contribute to the creation and delivery of a specific product or service to the customer.