5 Implications and Conclusions
Our meta-analysis study of the extant literature on the GSCM focuses on the manufacturing sector in the AEE. The meta-analysis revealed several relationships between GSCM practices and performance. Through a systematic literature review, we identified and analyzed 50 articles with 130 effects that involved a total of 11,127 manufacturing companies in the AEE. Subsequently, we developed a conceptual framework consisting of five major relationships in the GSCM practices and performance. The results of our meta-analysis indicate that the GSCM practices lead to better performance in three aspects: economic, environmental, and operational. More specifically, the GSCM practice–performance relationship is the strongest for economic performance, which is followed by operational and environmental performance, respectively. Surprisingly, the GSCM practices did not have any significant impact on the social performance. Moreover, the results also indicate that several GSCM practiceperformance relationships are moderated. This is an important finding for several reasons. Firstly, our meta-analysis implies that the adoption of GSCM practices contributed to firm performance, but at different levels. Secondly, this finding also instills more confidence in the adoption of GSCM practices as a profitable environmental strategy that can be used to reduce environmental impact while increasing the economic performance. In this regard, as the competition in manufacturing industry becomes more between supply chains and less among individual firms, Peng and Lin (2008) stated that the adoption of GSCM practices is becoming an important and valuable strategy to reduce costs whilst satisfying different stakeholders’ requirements. Our meta-analysis indicated that the adoption of GSCM practices is becoming more significant in contributing to firm performance as the supply chains become more complex. As for the globalization, the adoption of GSCM practices will play a larger role in manufacturing companies in the AEE not only in reducing environmental impact but also in contributing to the firm performance.