What is the term for a collection of independent firms using information technology to coordinate their value chains?

The term that best describes a collection of independent firms using information technology to coordinate their value chains is referred to as a value web. A value web represents the interconnections and interactions among organizations that collaborate to deliver products or services in a synchronized manner. In this arrangement, various businesses capitalize on shared technology and information systems to optimize their operations and enhance value delivery to customers.

Value webs are characterized by their flexibility and dynamism, allowing multiple firms to work together while maintaining their independence. This type of collaboration may involve suppliers, manufacturers, distributors, and even customers, all aligned in a network that fosters efficient processes and innovative solutions.

The concept of a value web contrasts with other terms like industry value chain, which typically focuses on a linear sequence of activities within a single organization rather than the interconnected ecosystem of multiple businesses. A business ecosystem also describes interactions among organizations but may include various non-business entities, such as governmental or non-profit organizations, which extends beyond the scope of a value web. Consortia generally refer to formal associations of multiple organizations for a common purpose but may lack the dynamic, technology-driven coordination seen in value webs.