Abstract: Going from some essential property of value chain,this paper uses the principle and form of production function for reference,then puts forward a new value chain management model:value chain management of quasi-production function,and proves some important properties and discusses the optimization process of enterprise value chain with the model.A numerical example is provided to illustrate the application of this model,the process and results of analysis show that this model can realize preferably optimization and management of value chain.

Key words: value chain, value chain management, quasi-production function, competitive advantage, quantitative analysis