Purpose- This study aims to systematically review the literature on operations strategy to understand its role in fostering competitive advantage. The literature on operations strategy was summarized using bibliometric analysis, network analysis and content analysis techniques. The bibliometric approaches analyzed 1,070 articles published between January 2013 and December 2023. Additionally, it is supplemented through content analysis by analyzing 60 selected articles in depth. The review identified six major research themes in operations strategy: impact of supply chain integration on operational performance, outsourcing and resource-based view, lean strategy, service operations strategy, operations capabilities and responsive supply chain strategy. The review offers a comprehensive overview of current research and highlights potential areas for future exploration, providing valuable guidance for scholars and practitioners in operations strategy. Also, the review provides insights for operations managers that can be applied to develop effective strategies across various industrial contexts. Design/methodology/approach- The main objective of a literature review is to analyze the body of existing knowledge, identify possible research gaps and propose future research avenues (Tranfield et al., 2003). Searching for relevant keywords, discovering pertinent information and then completing the analysis are expected in systematic literature reviews. Tranfield et al. (2003) have provided the guidelines to conduct the literature review in a systematic way, which scholars in the business and management domains increasingly adopt. It consists of three stages as follows: planning the review; conducting the review; and reporting and dissemination. The present study uses these guidelines to organize the literature on operations strategy. Findings- This work provides several theoretical and managerial implications by offering a thorough and methodical understanding of the area. It contributes to the corpus of knowledge that provides a frame of reference based on an insightful synthesis of the prior study. It aims to identify future research avenues in the domain of operations strategy. Several research avenues are identified by carefully analyzing the available literature and conducting a robust bibliometric approach combined with network and content analysis techniques. Thus, the current study will be a valuable resource for future scholars interested in learning about and examining this area. Research limitations/implications- Continuous research for improvement in the existing system or practice has been the fundamental nature of human beings. Hence, it is pertinent to identify future research avenues for the researchers interested in the area. Despite the extensive studies on operations strategy, certain areas require more investigation. As per the analysis of the literature search of 1,070 articles published in the area, the author suggests future scholars explore the following research avenues: need for conceptual and mixed-method studies; cross-country comparison and generalization; integration with Industry 4.0 technologies; integration with the triple bottom line; and aligning with circular economy. Practical implications- A need is created to generate a pathway of aligning operations strategy with the principles of circular economy, requiring future research to address its fundamentals. Potential research questions that could be explored are as follows: How can companies align operations strategy with circular economy principles to minimize waste and improve resource efficiency? How does adopting circular economy practices impact supply chain design and operations strategy? What role do innovation and technology play in integrating circular economy principles into operations strategy? Social implications- The proposed research avenues will provide adequate information to operations managers about areas of attention that would fully leverage operations strategy and provide the firm with a competitive advantage. Moreover, integrating their outcomes with Industry 4.0 technologies, particularly emerging technologies such as artificial intelligence, blockchain and the Internet of Things can provide a new direction for operations managers. Furthermore, operations performance can make or break the organization. Performance is not a simple or easy concern; it is multi-faceted in the sense that a single measure can never comprehensively represent it. Several measures will always be needed to evaluate the holistic performance of a firm. Originality/value- This work provides several theoretical and managerial implications by offering a thorough and methodical understanding of the area. It contributes to the corpus of knowledge that provides a frame of reference based on an insightful synthesis of the prior study. It aims to identify future research avenues in the domain of operations strategy. Several research avenues are identified by carefully analyzing the available literature and conducting a robust bibliometric approach combined with network and content analysis techniques. Thus, the current study will be a valuable resource for future scholars interested in learning about and examining this area.
