Determining value in the food supply chain

Abstract

Purpose – The purpose of this paper is to explore what the term “value” means to the multiple stakeholders interfacing and interacting with the food supply chain. Design/methodology/approach – The research included a literature review and the development of a cost: reward (give: get) stakeholder interaction model. Findings – Perceptions of value are individualistic. Conflict of interest exists for business between maintaining shareholder value and delivering “value” within the food offering to its customers and the wider array of societal stakeholders. Shareholders are profit driven and price is the predominant factor that influences consumer purchasing behaviour leading to a constantly negotiated interface between price and other reward factors. Reward factors such as financial, degree of utility, affordability, hedonistic factors defining the emotional worth of food, acquirability and the ratio of price: volume of food are explored. Originality/value – This research is of academic value and of value to policy makers and practitioners in the food supply chain.