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Abstract:
The purpose of this article is to provide an updated configuration of the reviewed value chain considering specific requirements and evolutions in business processes. The scientific approach of this paper is a conceptual and analytical one. Firstly, on the basis of previous research and analysis of statistical data the relevance for value creation is highlighted. Secondly, the analytical and conceptual findings are consolidated for an updated configuration of the value chain. The scientific aim of this article is to contribute a contemporary approach of a reviewed value chain to academic discussion. The concept of the value chain is a reasonable tool to assess competitive advantage. As time changes, methods and tools have to be changed, too. Especially in the age of Internet of Things it is important to review all influences. Due to current findings of research it is justifiable to incorporate innovation management and procurement into the primary activities, because these activities have changed into considerable value creators. On the other hand logistic activities do not contribute noticeable share of added value and therefore should be considered as a secondary activity
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