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Purpose - The purpose of this paper is to analyze supplier selection from an economic perspective. The conventional view of cost benefit analysis is that the cost dimension is static, and companies are urged to pursue the lowest bid price when choosing suppliers. However, this perspective does not consider uncertainty, which is an important characteristic of supply chains. To overcome this shortcoming, a model is proposed that views supplier selection under uncertainty. Design/methodology/approach - The study proposes a model that analyzes supplier selection from an economic standpoint based on the switching options approach. Findings - The results show that, contrary to the conventional wisdom, the buyer's choice of supplier makes a significant difference under conditions of uncertainty, and naively accepting the lowest bid price is not necessarily the best option. Research limitations/implications - The study extends the literature by quantifying previous studies of the buyer-supplier relationship. This enhances understanding by quantifying the relationship under conditions of uncertainty, a topic that has been largely ignored by previous works. Practical implications - The economic perspective, which considers uncertainty, helps managers examine their supply chain relationships in depth when choosing suppliers. In addition, this study could also help buyers access alternative supply chain partners. Managers can make the calculations easily by using Microsoft Excel software. Originality/value - The paper presents an original discussion about viewing supplier selection from the switching options perspective. The modeling and analysis of switching options help managers better understand the supplier selection process from an economic perspective, and improve competitiveness by helping them to make appropriate decisions

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Knowledge has become the main value driver for organizations nowadays. In particular, knowledge-based organizations (KBOs)

This study examined the relationship between supply integration and relationship stability and the relationship between relationship stability and performance; furthermore, the moderation effect of environmental uncertainty on supply chain integration and relationship stability was analyzed. The subjects are typical small and medium-sized enterprises (SMEs) in developing countries that focus on niche markets to compete with large-scale manufacturers. Questionnaires were distributed to manufacturers to collect empirical data; in total, 566 valid samples were gathered. The results indicate that supply chain integration has positive effects on relational stability and that relational stability has positive effects on supply chain performance. Relational stability is a mediator between supply chain integration and supply chain performance. The contingency effects of environmental uncertainty on the relationships between internal integration and relational stability were determined in this research. This research framework extended past research on supply chain management; part of the research explored the relationship between supply chain integration and different measures of supply chain performance, as well as whether uncertainty affects supply chain integration and supply chain performance.

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