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Best value supply chains: A key competitive weapon for the 21st century

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  • Ketchen, David Jr.
  • Rebarick, William
  • Hult, G. Tomas M.
  • Meyer, David

Abstract

All executives would like their organizations to perform better, and most seek ways to make that happen. This paper focuses on how supply chains -- the series of activities through which products and services are created and then distributed to customers -- can enhance firm performance. For the last couple of decades, most firms have emphasized maximizing speed or minimizing costs within their supply chains. In the current business landscape, however, a broader approach is needed. We describe the main advantages of developing best value supply chains as a tool for enhancing performance. These chains differ from traditional chains in important ways. Best value supply chains are used by organizations as a central element of strategy, not simply as a means to move materials. Rather than focusing primarily on speed or cost, best value supply chains are designed to deliver superior total value to the customer in terms of speed, cost, quality, and flexibility. Our contention is that organizations that develop best value supply chains will enhance their performance. We support this contention with examples from leading firms that reflect a best value approach.

Suggested Citation

  • Ketchen, David Jr. & Rebarick, William & Hult, G. Tomas M. & Meyer, David, 2008. "Best value supply chains: A key competitive weapon for the 21st century," Business Horizons, Elsevier, vol. 51(3), pages 235-243.
    • Handle: RePEc:eee:bushor:v:51:y:2008:i:3:p:235-243
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    Cited by:

    1. Kerekes, Vivien & Felföldi, János, 2020. "SUPPLY CHAIN MANAGEMENT PRACTICES FOR SMEs," APSTRACT: Applied Studies in Agribusiness and Commerce, AGRIMBA, vol. 14(3-4), December.
    2. Kasim, Eley Suzana & Daud, Dalila & Alam, Md. Mahmudul & Omar, Normah & Kusrini, Elisa, 2021. "Application of Maqasid Al-Shariah into Supply Chain Management Practices for Sustainable Development," OSF Preprints 789vz, Center for Open Science.
    3. Park, YoungWon & Hong, Paul & Roh, James Jungbae, 2013. "Supply chain lessons from the catastrophic natural disaster in Japan," Business Horizons, Elsevier, vol. 56(1), pages 75-85.
    4. Grilec Kaurić, Alica & Miočević, Dario & Mikulić, Josip, 2014. "Dynamic Capabilities and Firm Effectiveness: The Mediating Role of Supply Chain Performance," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Blecker, Thorsten & Kersten, Wolfgang & Ringle, Christian M. (ed.), Innovative Methods in Logistics and Supply Chain Management: Current Issues and Emerging Practices. Proceedings of the Hamburg International Conferenc, volume 19, pages 391-412, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    5. Meysam MALEKI & Virgilio CRUZ MACHADO, 2013. "Generic Integration of Lean, Agile, Resilient, and Green Practices in Automotive Supply Chain," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(2), pages 237-248, May.
    6. Chang, Woojung & Ellinger, Alexander E. & Kim, Kyoungmi (Kate) & Franke, George R., 2016. "Supply chain integration and firm financial performance: A meta-analysis of positional advantage mediation and moderating factors," European Management Journal, Elsevier, vol. 34(3), pages 282-295.
    7. T. Saikouk & I. Zouaghi & A. Spalanzani, 2011. "Mitigating Supply Chain System Entropy by the Implementation of RFID," Post-Print halshs-00665653, HAL.
    8. Dreyer, Heidi C. & Strandhagen, Jan Ola & Thomassen, Maria K. & Romsdal, Anita & Gran, Erik, 2014. "Supply Chain Control Principles in Local Food Production: A Norwegian Case Study," International Journal on Food System Dynamics, International Center for Management, Communication, and Research, vol. 5(2), pages 1-16, August.
    9. Christian Hofer & Jordan M. Barker & Laura D'Oria & Jonathan L. Johnson, 2022. "Broadening our understanding of interfirm rivalry: A call for research on how supply networks shape competitive behavior and performance," Journal of Supply Chain Management, Institute for Supply Management, vol. 58(2), pages 8-25, April.
    10. Nagurney, Anna & Yu, Min & Floden, Jonas & Nagurney, Ladimer S., 2014. "Supply chain network competition in time-sensitive markets," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 70(C), pages 112-127.
    11. Cucagna, Maria Emilia & Goldsmith, Peter D., 2018. "Value Adding in the Agri-Food Value Chain," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 21(3), February.
    12. Daniel Kiel & Julian M. Müller & Christian Arnold & Kai-Ingo Voigt, 2017. "Sustainable Industrial Value Creation: Benefits And Challenges Of Industry 4.0," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 21(08), pages 1-34, December.
    13. Ketchen, David J. & Short, Jeremy C., 2011. "Separating fads from facts: Lessons from The Good, The Fad, And The Ugly," Business Horizons, Elsevier, vol. 54(1), pages 17-22.
    14. Dreyer, Heidi C. & Strandhagen, Jan Ola & Thomassen, Maria K. & Romsdal, Anita & Gran, Erik, 2014. "Supply Chain Design and Control Principles in Local Food Production: A Norwegian Case Study," 2014 International European Forum, February 17-21, 2014, Innsbruck-Igls, Austria 199344, International European Forum on System Dynamics and Innovation in Food Networks.

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