- chain
- chain chain [tʆeɪn] noun [countable]1. a number of shops, hotels, cinemas etc owned or managed by the same company or person:
• Britain's leading supermarket chain
chain of• a chain of travel agents.
2. a series of people or organizations involved in different stages of the same activitythe series of organizations that are involved in passing products from manufacturers to the public:• There are price advantages to be gained when middlemen, or retailers, are by-passed in the chain of distribution.
• During the different stages in the supply chain, distributors and suppliers frequently have conflicting goals.
ˈvalue chain MARKETING MANUFACTURING1. how each department in a company adds to the value of the goods or services produced:• We need to be aware of the complete value chain for the company's products and how investment will improve each part.
2. how each company in a group of companies who are all involved in producing a particular product or service adds to its value — see also daisy chain* * *
chain UK US /tʃeɪn/ noun [C]► COMMERCE a group of similar businesses, such as restaurants or hotels, which are all owned and controlled by the same organization: hotel/supermarket/fast-food chain »The well-known fast-food chain has expanded to over 20,000 restaurants in 17 countries.
»chain restaurants/stores/retailers
»a chain of supermarkets/bookstores/department stores
► a system of people, processes, or organizations that work together in a particular order: »This unit examines the stages in the chain of production of tea, from the leaves in Sri Lanka to the cup in the UK.
chain of command/power/authority »Employee complaints were taken all the way up the corporate chain of command.
► UK PROPERTY a situation in which someone cannot complete the sale of their house because the person who wants to buy it needs to sell their house first: »Some house sellers refuse to exchange contracts with buyers who are in a chain
→ See also DISTRIBUTION CHAIN(Cf. ↑distribution chain), PRODUCTION CHAIN(Cf. ↑production chain), SUPPLY CHAIN(Cf. ↑supply chain), VALUE CHAIN(Cf. ↑value chain)
Financial and business terms. 2012.