This paper aims to re-evaluate the value system of Supply Chain Management (SCM) by examining the elements of paradigms that are embedded in the theories and practices. Conceptual analyses are made on the meaning of optimization of supply chain by efficiency pursuit. Limitation of rational decision making, theories of stock minimization, lead time shortening, value-added services, supply chain integration, systemization and professionalization due to the limitation of information obtainable and the complexity of the economy are pointed out. The author suggests that currently prevailing SCM paradigms are static and efficiency in supply chains should be measured dynamically, taking different time spans into account. In the face of growing concern over unequal distribution of wealth and the scarcity of natural resources with the vast Asian population participating in the global market, the traditional division of labor and comparative advantage theories are now subject to reconsideration. Future studies in this field should take into account the Asian value system of modesty, diligence and long-term orientation on the basis of benevolence, trust and harmony. A cross-disciplinary and cross-cultural analyses of the SCM paradigm has rarely been done. This paper claims to raise questions on the existing paradigm in this field and contributes as an explorative study to the restructuring of SCM theories.

How Supply Chain Management (SCM) theories have dealt with efficiency is important to note when we study the theories. Doyle (1964) said, "logistics is an art, not a science." His definition of military logistics"all things and all actions necessary to support combat wherever, whenever and whatever those requirements may be"is in principle applicable to the idea of business logistics. However, logistics has changed its sphere from art to a higher level of discipline which has been making substantial contribution to the general management theories.

In recent decades, the development of sophisticated material handling equipments and Information and Communication Technology (ICT) has improved the accuracy and efficiency of operations by collecting information and analyzing data to make decisions based on that. In other words, logistics has been dedicated to finding solutions by developing technology and management skills. Hutchinson (1987) called this systems logistics and predicted its ICT-centric development, but at the same time, he rightly warned that future logistics would be influenced more by social rather than technical problems. Logistics and SCM have taken into account the development of various fields in management studies and established their own stream of academic discipline. However, the social part of the problems as Hutchinson predicted is yet to be studied. Supply chains were extended further across borders in the 1990s, thanks to the ICT revolution. It was even spurred by geopolitical upheavals such as the end of the Cold War and China's introduction of market economy. The increase in transportation capacity helped enhancing the trend on the principle of economies of scale, overcoming distance and enjoying comparative advantage. The cross-border division of labor which Smith (1776) advocated, has steadily and been progressing on a worldwide basis.

The ongoing globalization of the economy has apparently caused unification of the SCM theories. Management takes up issues relevant to decision making which can lead to enhanced profitability of a firm. A theory can be accepted by practitioners only when they recognize its applicability to the solution for the problem they are facing in the real world. However, how the people want to solve the problem depends on the concept of values that is inherent in their mind. For example, some people are attached to a substantial profit for the year while others see small but sustainable profits for a longer term as more valuable. In other words, management theories are influenced by time frames. This is where paradigms have relevance in examining the validity of a theory.

Supply Chain Management Journal, Supply Chain Management Paradigms, Global Market, Information and Communication Technology, ICT, Globalization, Decision Making Process, Cost Reduction Processes, Business Transactions, Stock Minimization Paradigm, Logistics Service Providers, Logistics Management Planning, Transportation Services, Management Theories.