Despite calls for more theoretical and strategically oriented work in logistics, the resource‐based theory of the firm (RBT), and the related capabilities approach ‐ which represent a dominant stream of research in strategic management over the last decade ‐ have not been prominent in the logistics literature. Provides a critical review of the large literature on the RBT and suggests areas where it can be applied to strategically‐oriented logistics research. Describes the resource‐based theory of the firm, its major assumptions, and its implications for strategic actions. Also discusses other areas of research where the RBT have been applied. Illustrates how the RBT represents the underlying theoretical support for one of the central propositions of strategic logistics: that a distinctive logistics capability is a source of sustainable competitive advantage and superior performance. Suggests that strategic logistics research may benefit from combining the RBT with organizational learning theory and evolutionary approaches to competition.

In the last 10 years new theories of superior business performance have emerged from the work of marketing, strategy, organizational theory and economics scholars. These new perspectives, known under the labels of resource-based view of the firm, competence-based competition and evolutionary theory, share a special focus on a firm's rare, valuable and difficult-to-imitate resources (e.g. intangible assets and organizational capabilities) as the key determinants of superior business performance. Based upon this work and developments in the marketing strategy literature, in this study we develop a conceptual model which links these different explanations of superior performance and renews original ideas in terms of the drivers of success and superior performance. Competition is approached as a dynamic phenomenon and, therefore, firm success is not permanent. Innovations are a common way in which the competitive advantages of other firms are offset or eliminated. In fact, the role of knowledge-related resources is highlighted in the conceptual model as a key determinant in the continuous creation of competitive advantages in an increasingly competitive environment.