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Abstract Considering the asset specificity of flexible production investment under the customer to manufacturer（C2M） model，this study constructs bargaining models of the contract manufacturer and platform under the non-cooperative investment strategy，investment sharing strategy and joint venture strategy，respectively. This study discusses the supply chain cooperation conditions and the optimal investment cooperation strategy. Moreover，it analyzes the influences of asset specificity and bargaining powers on strategy decisions. The results show that the contract manufacturer and platform can achieve supply chain cooperation under the C2M model only when the misfit cost coefficient is within a moderate range. Both firms tend to choose the joint venture strategy when they have higher bargaining powers，and the investment sharing strategy is preferred when they have lower bargaining powers. In some cases，weak bargaining does not necessarily harm the platform’s profits，and asset ownerships may consolidate the contract manufacturer’s profits when it is in a weak bargaining position. Asset specificity affects the condition ranges of supply chain cooperation and the optimal strategy decision.
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Received: 22 January 2024
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