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Value-Added Activity |
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Value-Added Activity An activity that increases the value of a product at a given stage in a production cycle or supply chain. For example, a timber company cuts down trees, which adds value to the wood because it can then be used. It may then sell the timber to a miller, who adds value by refining the timber into planks of wood. A carpenter who buys the planks adds value by making them into a table, which can then be sold to a customer. The concept of value added is most important in countries and other jurisdictions that have a value-added tax. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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