The famous strategy textbooks authored by M. Porter (1980, 1985, 1990) have heavily emphasized that the construction of a value chain model is one of the vital tools in executing strategic advantages, no matter for a person, an enterprise, or the whole industry as well as the entire nation. Although numerous researches exist in the value chain fields, most of them focus on the developments of various types of cost leadership, differentiation, and core competence while only few deeply investigate the activities within value chains. Due to lacks of understanding about the activities along the value chain processes, the management has difficulty in effectively arranging and scheduling the value chain activities as well as in locating and allocating resources to theses activities appropriately. Accordingly, the entire competitive strength of a firm may not either be used in the most wanted place or attack the competitor’s weakest position. Hence, this work aims to propose a “value chain-competitive benefit” path analysis model and take DHL as case study to illustrate the practice and contribution of the research.