The study charts the evolution of research on supply chain efficiency, vendor selection, cost optimization, and risk mitigation from 2005 to 2025. It undertakes a combined bibliometric analysis and structured literature review (SLR) on a dataset of 289 Scopus-indexed articles. Using performance indicators, science mapping, and the TCCM framework (theory, context, characteristics, methodology), the study inquiries into publication trends, eminently visited journals, most cited works, and emerging research themes. The study shows a paradigm shift from a cost approach that is narrower to a multidimensional approach that integrates sustainability, resilience, and digital transformation. Among other key enablers which document the approach include blockchain, big data analytics, AI, and Industry 4.0 technologies. China and the United States are leading countries with respect to research outputs and citation impacts, but India is emerging as a developing contributor in procurement and vendor selection, especially since the power and energy sector remains underexplored. Furthermore, the study highlights the predominant use of a cross-sectional quantitative approach and calls for longitudinal and mixed-method approaches. The paper contributes to the literature by charting the intellectual evolution of SCM efficiency research, unearthing sectoral and methodological gaps, and providing actionable recommendations for industrial players and policymakers.