The tangible asset capacity and its operations capability in logistics capabilities were explained, and some middle variables were selected to measure the supply chain performance. Some hypotheses were put forward and the measurement models were established.  About one thousand industrial enterprises in mainland China were surveyed through a questionnaire and the results were analyzed by Structure Equation Modeling (SEM).  The results show that the operations capability influences more the supply chain performance than tangible asset capacity.  From the empirical analysis results, it is seen that the operations capability has the great effects on the customer response, service quality and logistics performance, and influences the enterprise financial performances indirectly through the service quality.  Related with the operation capability, the tangible asset capacity has indirect effects on the enterprise performances, including the customer response, service quality and logistics performance.