To maintain a competitive advantage in supply chain management, companies require the capability of adapting to major changes occurring in supply chains, which involves recognizing market changes and the ability to adapt to them. Despite the emphasis on the importance of supply chain adaptability in real corporate cases and prior research, there is a relative shortage of studies on the antecedents and effects of supply chain adaptability. Therefore, this study proposes and tests a theory of supply chain adaptability based on the Strategy-Positional Advantage-Performance framework (SPP framework) and the concept of dynamic capabilities. Specifically, an organizational learning culture is proposed as an antecedent of supply chain adaptability, and the mediating effect of supply chain adaptability in the relationship between organizational learning culture and firm performance is examined. The empirical test was performed using survey responses from 209 manufacturing companies in 15 countries, including North America, Europe, and Asia. This study is significant in that it (1) conceptualized and empirically confirmed that supply chain adaptability is a multidimensional construct, (2) recognized that organizational learning culture can function as an antecedent of supply chain adaptability, and (3) theorized and confirmed that supply chain adaptability mediates the organizational learning culture and firm performance based on the SPP framework.