The objective of this paper is proposing a developed balanced scorecard approach to measure supply CHAIN performance with the aim of creating more VALUE in manufacturing and business operations. The most important metrics have been selected based on experts’ opinion acquired by in-depth interviews focused on creating more VALUE for stakeholders. Using factor analysis method, a survey research has been used to categorize selected metrics into balanced scorecard perspectives. The result identifies the intensity of correlation between perspectives and cause-and-effect CHAINs among them using statistical method based on a real case study in home appliance manufacturing industries.