Final answer:
The parts of the value chain associated with producing and delivering a product or service are referred to as the supply chain. The statement is TRUE
Step-by-step explanation:
The statement is TRUE. The parts of the value chain associated with producing and delivering a product or service, such as production and distribution, are indeed referred to as the supply chain.
The value chain is a concept that describes the sequence of activities involved in bringing a product or service from its conception to its delivery to the end consumer. It consists of various stages, including sourcing raw materials, manufacturing, distribution, marketing, and customer service.
For example, in the case of the iPhone, the value chain includes designing and engineering in the United States, sourcing parts from Korea, assembling in China, and marketing in the United States. Each of these stages is a part of the supply chain.