The simple answer is yes. However....
The longer answer is that by their very nature supply chains are multi-variable environments. Just like in math when solving for a multi-variable equation you must look at the entire "operation" (i.e. equation) and understand any constraints that exist. Based upon these constraints and the overall operation you can then set about solving for each variable. In this case the process of solving will allow a person to determine the key objective(s) for the organization.
Examples of this might include the following:
a) If you are a global supplier of precision motor equipment to demanding marine environments you have a "constraint" that is the need for high availability by your customers. Your customers demand this because if they are in a down scenario for even an hour it may mean hundreds of thousands of dollars in lost output. In this supply chain organization a key supply chain objective would be high availability
of replacement parts and inventories positioned in locales that are near to your key installed bases.
b) If you are a global supplier of paper products such as toilet paper or paper towels your business is much more commoditized and also much more cost driven. In this environment your key "constraints" might be the the price of raw materials & inputs such as fuel (transport) and real estate (warehousing). In this supply chain organization a key supply chain objective would be reduction in total landed cost
and also locking in supplier agreements that help mitigate risk of unplanned movements in commodities that drive the overall product cost.
These are just two extremely simplified examples but the point is that each supply chain organization must do a complete analysis of their business, their competitive environment and their customer needs. Based upon an ongoing, relevant, and comprehensive analysis they can then seek to develop individual objectives that allow the organization to compete successfully.