Macro-Economics Moderating the Effect of Supply Chain Management on Competitive Advantage and Firm's Performance in the Shipping Industry in Stock Exchange Indonesia
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Published:
Dec 27, 2022
Keywords:
Supply Chain Management, Competitive Advantage Macro-economics, Firm's Performance
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Abstract
The purpose of this study is to test and analyze moderating Macro-economics on the influence of Supply Chain Management on competitive advantage and Firm's Performance. The population in this study are shipping industry companies listed on the Indonesia Stock Exchange from 2013 to 2019. Data analysis using the Partial Least Square (PLS). The conclusion from the results of this study is that supply chain management has a significant effect on the competitive advantage of companies engaged in the shipping industry listed on the Indonesia Stock Exchange from 2018 to 2019. Supply chain management and competitive advantage have no significant effect on the firm's performance. Macro -economics moderating is proven to influence supply chain management relationships with competitive advantage, as well as the relationship between competitive advantage and supply chain management with firm's performance.
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How to Cite
Purwaningsih, E. S., Budiyanto, & Khuzaini. (2022). Macro-Economics Moderating the Effect of Supply Chain Management on Competitive Advantage and Firm’s Performance in the Shipping Industry in Stock Exchange Indonesia. Asian Social Science and Humanities Research Journal (ASHREJ), 4(2), 34-48. https://doi.org/10.37698/ashrej.v4i2.139
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
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___________ . 1991. Firm Resources and Sustained Competitive Advantage. Journal of Management 17(1): 99-121.
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Chopra, S. dan P. Meindl. 2004. Supply Chain Management : Strategy, Planning and Operation . 2nd ed . _ Prentice Hall Upper Sadle River. New Jersey.
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Liu, CL, KC Shang., TC Lirn., KH Lai., and YHV Lun. 2018. Supply Chain Resilience, Firm Performance, and Management Policies in the Liner Shipping Industry. Transportation Research Part A: Policy and Practice 110(2017): 202–219.
Malhotra, N. and M. Peterson. 2001. Marketing Research in the New Millennium. Marketing Intelligence and Planning 19(4): 216-232.
Mbiti, B., W. Muturi., and C. Rambo. 2017. Macro environment moderating Effects on Strategy and Performance. Haya: The Saudi Journal of Life Sciences 2(5): 197-209.
Mutunga, SL 2014. Perceived Effects of Selected Macroeconomic Indicators on Sustainable Competitive Advantage in Food and Beverage Firms in Kenya. European Journal of Business and Management 6(30): 97-107.
Novitasari, HI 2016. The Effect of Supply Chain Management on Competitive Advantage and Company Performance (Study on Pottery Handicraft SMEs in Kasongan). Thesis. University of Indonesia. Jakarta.
Novitasari, M. and D. Agustia. 2021. Green Supply Chain Management and Firm Performance: The Mediating Effect of Green Innovation. Journal of Industrial Engineering and Management 14(2): 391-403.
Oliver, RK and MD Weber. 1982. Supply-Chain Management: Logistics Catches Up with Strategy. 5th Ed. Springer. Berlin.
Paoki, K., P. Kindangen., and AH Jan. 2016. Analysis of Supply Chain Management on Samsung Mobile Phones at Samsung Center ITC Manado. Journal of Scientific Efficiency 16(4): 331-338.
Porter, M. 1980. Competitive Strategy-Techniques for Analyzing Industries and Competitors . 27th Ed. The Free Press . New York.
________.1985. Competitive Advantage-Creating and Sustaining Superior Performance. 28 th ed. The Free Press . New York.
________. 2008. The Five Competitive Forces That Strategy. Harvard Business Review w 86(1): 79–93.
Pujawan, IY 2005. Supply Chain Management . First Edition. Use Widya . Surabaya.
Rudianto. 2012. Management Accounting . First Edition. Erlangga . Jakarta.
_______ . 2013. Information Management Accounting for Retrieval Strategic Decision. First Edition. Erlangga. Jakarta .
Ruhomaun, MA, M. Saeedi, and N. Nagavhi. 2019. The Effects of Selected Macro & Micro Economic Variables on Firm Performance for Listed Firms in the Industrial Products Sector in Malaysia. International Journal of Recent Technology and Engineering (IJRTE) 7(5): 95-101.
Sabry, A. 2015. The Impact of Supply-Chain Management Capabilities on Business Performance in the Egyptian Industrial Sector. International Journal of Business and Management 10(6): 251-286.
Saekhu. 2017. Impact of Macroeconomic Indicators on Islamic Banking Third Party Funds. Economica: Journal of Islamic Economics 8(1): 103 – 130.
Samsul, M. 2015. Capital Markets and Portfolio Management . 2nd Ed. _ Erlangga. Jakarta.
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Suharto, R. and Devie. 2013. Analysis of the Effect of Supply Chain Management on Competitive Advantage and Company Performance. Journal of Business Accounting Review 1(2): 1-10.
Suharyadi and Purwanto. 2009. Statistics for Economics and Finance. Second Edition. Salemba Four. Jakarta.
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Wulandari, W., RN Sari., and L. Al Azhar. 2016. The Influence of Supply Chain Management on Company Performance Through Competitive Advantage. Journal of Economics 21(3): 462-469.
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Yun, Y. and A. Kurniawan. 2017. Analysis of Supply Chain Management on Competitive Advantage in Food Production Cooperatives in West Bandung Regency. Gentiaras Journal of Management and Accounting 9(2): 160-172.
Agha, S. 2012. Effect of Core Competence on Competitive Advantage and Organizational Performance. International Journal of Business and Management 7(1) : 192-204.
Agustina, C. and A. Ardiansari. 2015. The Influence of Macroeconomic Factors and Financial Performance on Firm Value. Management Analysis Journal 4(1): 10-21.
Ahmad, M. and HW Oetomo. 2007. Financial Performance Analysis Using Economic Value Added Method and Marker Value Added Cigarette Company. Journal of Business Management Accounting 4(1): 17-35.
Akintoye, A., McIntosh, G., & Fitzgerald, E. (2010). A Survey of Supply Chain Collaboration and Management in the UK Construction Industry. European Journal of Purchasing & Supply Management 6 (3/4), 159‐168.
Amit, R. and PJH Schoemaker. 1993. Strategic Assets and Organizational Rent . Strategic Management Journal 14 (1 ) : 33-46 .
Anatan, L. and L. Ellitan. 2008. Supply Chain Management : Theory and Applications . First Edition. Alphabet . Bandung.
Anggalia, A., R. Lestari, and E. Fitriah. 2016. Analysis of Value Chain Implementation in Achieving Competitive Advantage at PT. Independent Foximas. Proceedings of Accounting 2(2): 534-539.
Ayuningtyas, D. 2019. Performance of Shipping Issuers Depressed, BUMN Orders Still OK? https://www.cnbcindonesia.com/market/20190724125847-17-87204/kinerja-emiten-pelayaran-tertekan-orderan-bumn-masih-oke. 29 June 2020 (14:31).
Bank Indonesia. 2020. Macroeconomic Indicator Projection Survey. Bank Indonesia. January. Jakarta.
Bappenas. 2015. Summary of Strategic Initiatives Optimizing the Utilization of Marine Potential Towards the Realization of Indonesia as a Maritime Axis. January. National Development Planning Agency. Jakarta.
Barney, J. B. 1986. Organizational Culture: Can it be the Source of Sustained Competitive Advantage ? . Academy of Management Review 11 (3) :656-665.
___________ . 1991. Firm Resources and Sustained Competitive Advantage. Journal of Management 17(1): 99-121.
Basuki, AT and I. Yuliadi. 2015. Econometrics Theory & Applications. Conscience Library Partners. Yogyakarta.
Chen, C. and J. K. _ Kim. 2007. Optimization for Intelligent Operation of Supply Chains. Chemical Engineering Research and Design 85(12): 1611-1629.
Chen, I. J. and A. Paulraj. 2004. Towards a Theory of Supply Chain Management: The Constructs and Measurements. Journal of Operations Management 22(2): 119-150.
Chopra, S. dan P. Meindl. 2004. Supply Chain Management : Strategy, Planning and Operation . 2nd ed . _ Prentice Hall Upper Sadle River. New Jersey.
_________ and _______ .2007. Supply Chain Management: Strategy, Planning and Opera t ion . 3rd _ e d. Pearson Prentice Hall. New Jersey .
Clulow, V., C. Barry., and J. Gerstman. 2007 . The Resource‐Based View and Value: The Customer Based View of the Firm . Journal of European Industrial Training 31 ( 1 ): 19-35.
Ellram, LM and B. Liu. 2002. The Financial Impact of Supply Management. Supply Chain Management Review 6(6): 30-37.
Fadlilah, N. 2013. The Effect of Competitive Strategy on Company Performance With Supply Chain As Moderating Variable (Study on Manufacturing Companies Listed on the Stock Exchange in 2008-2011). Thesis. Stie Perbanas Surabaya. Surabaya.
Fama, E. F. 1981. Stock Returns, Real Activity, Inflation, and Money. American Economic Review 71(4): 545-65.
Gani, L. and J. Jermias. 2006. The Effects of Strategy-Management Control System Misfits on Firm Performance. Accounting Perspectives 11(3): 165-196.
Ghozali, I. 20 13 . Multivariate Analysis Application with SPSS Program. Third Edition. Diponegoro University Publishing Agency. Semarang.
Hair, J., L. Hopkins., M. Sarstedt., and V. Kuppelwieser. 2013. Partial Least Squares Structural Equation Modeling (PLS-SEM): An Emerging Tool for Business Research. European Business Review 26(2): 106-121.
Hall , R. 1992. The Strategic Analysis of Intangible Resources. Strategic Management Journal 13 (2 ) : 135-144 .
Handoko, B. L., R. Aryanto., and IGSo. 2015. The Impact of Enterprise Resources System and Supply Chain Practices on Competitive Advantage and Firm Performance. Procedia Computer Science 72(1) : 122-128 .
Handriani, E. 2011. Analysis of Competitiveness Factors in Semarang Regency. Journal of Management Dynamics 2(1):17-25.
Handfield, RB and JEL Nicholas. 2002. Supply Chain Redesign: Converting Your Supply Chain into Integrated Value Systems. 1st Ed. Financial Prentice Hall. New York.
Hasoloan, J. 2014. Monetary Economics . First Edition. Depublish . Yogyakarta.
Heizer, J. and B. Render. 2005. Operations Management . 7 years ed. Prentice Hall . New Jersey.
Hussain, MF 2010. Environment for Innovation: Gaining Competitive Advantage. African Journal of Business Management 5(4): 1232-1235.
Ibrahim, AM 2020. The Impact of Covid-19 on the Indonesian Economy and Government Policies. https://sukabumiupdate.com/detail/bale-warga/opini/68505-Impact-Covid-19-Towards-Economic-dan-Kebijakan-Government-Indonesia. 29 June 2020 (13:45).
Intan, G. 2020. Minister of Finance: Impact of Covid-19, Indonesia's 2020 Economic Growth could be minus 0.4 percent. https://www.voaindonesia.com/a/menkeu-dampak-covid-19-pergrowth-economic-indonesia-2020-bisa-minus-0-4-persen/5355838.html. 22 June 2020 (13:58).
Irungu, SM and W. Muturi. 2015. Impact of Macro-economic Variables on Performance of Firms Quoted in the Energy and Allied Sector in the Nairobi Securities Exchange. International Journal of Education and Research 3(10): 321-336.
Jogiyanto. and W. Abdillah. 2009. Partial Least Square (PLS) Alternative SEM. In Business Research. Publisher And i. Yogyakarta.
Ministry of Finance of the Republic of Indonesia. 2020. The Government is Alert for the Impact of the Covid-19 Pandemic on the Indonesian Economy. https://www.kemenkeu.go.id/publikasi/siaran-pers/siaran-pers-governmental-waspada-dampak-pandemi-covid-19-terhadap-ekonomi-indonesia/. 29 June 2020 (14:00).
Lawrence , N.M. 1997. Social Research Methods Qualitative and Quantitative Approaches . 4th ed . _ Allyn and Bacon. Boston.
Liu, CL, KC Shang., TC Lirn., KH Lai., and YHV Lun. 2018. Supply Chain Resilience, Firm Performance, and Management Policies in the Liner Shipping Industry. Transportation Research Part A: Policy and Practice 110(2017): 202–219.
Malhotra, N. and M. Peterson. 2001. Marketing Research in the New Millennium. Marketing Intelligence and Planning 19(4): 216-232.
Mbiti, B., W. Muturi., and C. Rambo. 2017. Macro environment moderating Effects on Strategy and Performance. Haya: The Saudi Journal of Life Sciences 2(5): 197-209.
Mutunga, SL 2014. Perceived Effects of Selected Macroeconomic Indicators on Sustainable Competitive Advantage in Food and Beverage Firms in Kenya. European Journal of Business and Management 6(30): 97-107.
Novitasari, HI 2016. The Effect of Supply Chain Management on Competitive Advantage and Company Performance (Study on Pottery Handicraft SMEs in Kasongan). Thesis. University of Indonesia. Jakarta.
Novitasari, M. and D. Agustia. 2021. Green Supply Chain Management and Firm Performance: The Mediating Effect of Green Innovation. Journal of Industrial Engineering and Management 14(2): 391-403.
Oliver, RK and MD Weber. 1982. Supply-Chain Management: Logistics Catches Up with Strategy. 5th Ed. Springer. Berlin.
Paoki, K., P. Kindangen., and AH Jan. 2016. Analysis of Supply Chain Management on Samsung Mobile Phones at Samsung Center ITC Manado. Journal of Scientific Efficiency 16(4): 331-338.
Porter, M. 1980. Competitive Strategy-Techniques for Analyzing Industries and Competitors . 27th Ed. The Free Press . New York.
________.1985. Competitive Advantage-Creating and Sustaining Superior Performance. 28 th ed. The Free Press . New York.
________. 2008. The Five Competitive Forces That Strategy. Harvard Business Review w 86(1): 79–93.
Pujawan, IY 2005. Supply Chain Management . First Edition. Use Widya . Surabaya.
Rudianto. 2012. Management Accounting . First Edition. Erlangga . Jakarta.
_______ . 2013. Information Management Accounting for Retrieval Strategic Decision. First Edition. Erlangga. Jakarta .
Ruhomaun, MA, M. Saeedi, and N. Nagavhi. 2019. The Effects of Selected Macro & Micro Economic Variables on Firm Performance for Listed Firms in the Industrial Products Sector in Malaysia. International Journal of Recent Technology and Engineering (IJRTE) 7(5): 95-101.
Sabry, A. 2015. The Impact of Supply-Chain Management Capabilities on Business Performance in the Egyptian Industrial Sector. International Journal of Business and Management 10(6): 251-286.
Saekhu. 2017. Impact of Macroeconomic Indicators on Islamic Banking Third Party Funds. Economica: Journal of Islamic Economics 8(1): 103 – 130.
Samsul, M. 2015. Capital Markets and Portfolio Management . 2nd Ed. _ Erlangga. Jakarta.
Simchi-Levi, D., P. Kaminsky., and E. Simchi-Levi. 2004. Managing the Supply Chain: The Definitive Guide for the Business Professional . 1st Ed. McGraw-Hill. New York.
Singh, R., HS Sandhu., BA Metri., and R. Kaur. 2010. Relating Organized Retail Supply Chain Management Practices, Competitive Advantage and Organizational Performance . The Journal of Business Perspective 14(3) : 173–190.
Solikhah, B., A. Rohman., and W. Meiranto. 2010. Implications of Intellectual Capital on Financial Performance, Growth and Market Value; Empirical Study with Simplistic Specification Approach. SNA Journal and Proceedings - National Accounting Symposium 13:1-29.
Solimun., AAR Fernandes, and Nurjannah. 2017. Multivariate Statistical Method Structural Equation Modeling (SEM) WarpPLS Approach. Second printing. UB Press. Poor.
Sucahyowati, H. (2011). Supply Chain Management (Supply Chain Management). Maritime Echo 13(1): 20-28.
Sugiyono. 2018. Quantitative, Qualitative and R&D Research Methods. Sixth Edition. Alphabet . Bandung.
Suharto, R. and Devie. 2013. Analysis of the Effect of Supply Chain Management on Competitive Advantage and Company Performance. Journal of Business Accounting Review 1(2): 1-10.
Suharyadi and Purwanto. 2009. Statistics for Economics and Finance. Second Edition. Salemba Four. Jakarta.
Sukati, I., AB Hamid., R. Baharuna., and R. Yusoff. 2012. The Study of Supply Chain Management Strategy and Practices on Supply Chain Performance. Procedia - Social and Behavioral Sciences 40(2012): 225-233.
Sullivan, AO 2003. Urban Economics . 6 years old ed . McGraw-Hill . New York.
Swink, M., R. Narasimhan., and C. Wang. 2007. Managing Beyond the Factory Walls: Effects of Four Types of Strategic Integration on Manufacturing Plant Performance. Journal of Operations Management 25(1): 148-164.
Winarno, WW 2017. Econometric and Statistical Analysis with Eviews. YPKN STIM Law. Yogyakarta.
Wulandari , D. 2010. Analysis of the Effect of Economic Freedom and Monetary Economic Variables on Stock Prices in Five ASEAN Countries. Dissertation . Doctoral Program in Economics, Specializing in Management, Universitas Brawijaya. Poor.
Wulandari, W., RN Sari., and L. Al Azhar. 2016. The Influence of Supply Chain Management on Company Performance Through Competitive Advantage. Journal of Economics 21(3): 462-469.
Yamin, S. and H. Kurniawan. 2011. New Generation Processing Research Data with XLSTAT, SmartPLS, and Visual PLS software. First Edition. Salemba Infotek. Jakarta.
Yun, Y. and A. Kurniawan. 2017. Analysis of Supply Chain Management on Competitive Advantage in Food Production Cooperatives in West Bandung Regency. Gentiaras Journal of Management and Accounting 9(2): 160-172.