Penelitian ini menganalisis pengaruh manajemen persediaan dan manajemen hubungan pemasok terhadap kinerja operasional UMKM di Surabaya. Kebaruannya terletak pada pengintegrasian perspektif Resource-Based View dan Relational View dalam satu model untuk menjelaskan kinerja operasional UMKM di pusat ekonomi lokal negara berkembang, konfigurasi yang masih jarang diuji. Dengan pendekatan kuantitatif eksplanatori, data dari 103 pemilik, manajer, dan staf operasional UMKM yang dipilih secara purposive dianalisis menggunakan PLS-SEM (SmartPLS). Manajemen persediaan (β = 0,620; t = 13,411) dan manajemen hubungan pemasok (β = 0,628; t = 11,773) berpengaruh positif dan signifikan, serta secara bersama-sama menjelaskan 75,9% variansi kinerja operasional (R² = 0,759). Temuan ini menegaskan bahwa penguatan kedua kapabilitas secara simultan meningkatkan kinerja operasional UMKM, sekaligus memberi kontribusi teoretis dan panduan praktis bagi pelaku UMKM. This study examines the effect of inventory management and supplier relationship management on the operational performance of MSMEs in Surabaya. Its novelty lies in integrating the Resource-Based View and the Relational View within a single model to explain MSME operational performance in a local economic hub of a developing economy a configuration that has rarely been tested. Using an explanatory quantitative approach, data from 103 MSME owners, managers, and operational staff selected purposively were analyzed with PLS-SEM (SmartPLS). Both inventory management (β = 0.620; t = 13.411) and supplier relationship management (β = 0.628; t = 11.773) have positive and significant effects and jointly explain 75.9% of the variance in operational performance (R² = 0.759). The findings confirm that simultaneously strengthening both capabilities improves MSME operational performance, offering theoretical contributions and practical guidance for MSME actors.