A value chain is a framework used by businesses to identify and understand the different activities they use to create value for their customers. In the service industry, this includes all of the stages that happen between the initial customer service contact and delivering the final product or service-based solution. By mapping out each of these steps, companies can better assess the efficacy of their processes and pinpoint areas that need improvement. Through a comprehensive understanding of their value chain, services companies can ensure they’re providing high-quality experiences—from purchase to delivery—that result in increased customer satisfaction, loyalty, and revenue.