Optimal Strategy Selection in a Supply Chain

Abstract

Uncertainties and unpredictability in the market force companies to develop strategies which enable them to perform better than their competitors. Developing proper strategies for a supply chain is crucial. Strategies are affected by the nature of the firm's products or services, customer preferences, operations, process design of the firm, etc. Companies should form adaptive supply chain strategies which enable them to be resilient and flexible enough in the flow of materials, products, information, and money along the supply chain. There are many studies about supply chain management and supplier selection in the literature. However, the number of studies about the selection of the right supply chain strategy are very limited. This study presents the components which help to constitute a supply chain strategy and classify the supply chain strategies described in the literature. Lastly, it offers a strategy and criteria matrix which can be used as a road map for selecting the most appropriate supply chain strategy by firms.