中文摘要：

时价值链概念首创者-迈克尔·波特的“价值”概念进行剖析，解释了其用价格分析取代价值分析的理论背景，并得出价值链价值实现的出发点为顾客价值的结论；通过对价值链进一步分析，说明解构传统的“纵向一体化”价值链成为硌然，而分散的链环将导致实物流、资金流与信息流的分离，使得价值链的价值实现的成败反映在企业对资金、信息与实物的驾驭能力上；而管理的工作将是对实物流、资金流与信息流的运作、跟踪、监控、预测与决策。

英文摘要：

This paper analyzed the concept of ＂value＂ in value chain initiated by M.E. Porter, made it clear the theory background why he uses price - analysis instead of value - analysis, and got the conclusion that the start of value realization of value chain is customer value. Then the paper explained that it is necessary to disconstruct traditional value chain, and the disperse links will result in logistics, capital flow and information flow apart so that the ability of controlling logistics, capital flow and information flow will reflect the value realization of value chain; and the management work is to operate, follow up, supervise , forecast and make decision the logistics, capital flow and information flow.