Abstract
Strategic decisions like supply chain integration and interfirm value co-creation are significant to SMEs’ performance. Therefore, this paper aims to find out the relationships between supply chain integration, interfirm value co-creation, and firm performance in Ghanaian SMEs. We employed a structural equation model (SEM) to estimate the responses of 473 SMEs registered with the Association of Ghanaian Industries (AGI) to find the nexus between supply chain integration, interfirm value co-creation, and the performance of Ghanaian SMEs. Further, we test for the mediating role of innovation capability and stakeholder pressure in the relationships between supply chain integration and firm performance and the relationship between supply chain integration and interfirm value co-creation, respectively. We found a positive significant relationship between the variables. Innovation capability mediates the positive relationship between supply chain integration and firm performance. Interfirm value co-creation has a negative relationship with the innovation capabilities of SMEs. Therefore, Ghanaian SMEs can invest in technologies, which promote collaborations with external parties to create value while minimizing cost.
Highlights
Businesses face the challenge of delivering cutting edge products and services to satisfy the ever-evolving needs of customers
Integrative supply chain integration has emerged as the perfect mechanism for businesses to achieve this agenda strategically [2,3]
The study explores the relationship between supply chain integration, interfirm value co-creation, and firm performance
Summary
Businesses face the challenge of delivering cutting edge products and services to satisfy the ever-evolving needs of customers. Achieving this depends on the successful acquisition, processing, storage, and generation of knowledge based on internal and external business environments [1]. Studies have established a strong positive correlation between supply chain integration and improved firm performance [2,4]. Despite these proofs, Ghanaian SMEs are unable to wholly benefit from supply chain integration because of low information technology diffusion, managerial inefficiencies, and inadequate financial resources [5]. There is an urgent need to justify the need for Ghanaian SMEs to actively engage in supply chain integration to realize the far-reaching benefit
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