The flagship firm in the supply chain integrates resources through SCM (Supply chain Management), optimizing the information flow，logistics and capital flow in the supply chain to obtain long-term competitive advantage and enable firm to enhance market response and competitive capacity. It has many abilities to get economy rent through implementation of SCM, flexible production capacity is one of those abilities. Based on the view of real options, this paper regarded this ability as a call option. Construct a model to analysis the value of flexible production capacity. Calculate the option value using Monte Carlo simulation，Matlab programming. Illustrate a numerical example and make a parameter sensitivity analysis.