The purpose of this paper is to investigate to what extend Quality Management System (QMS) impact the manufacturing competitive strategies–low cost, high quality, delivery time, flexibility and innovation-which consequently mediates the effect of QMS on financial performance. The cross-sectional data was collected from 189 Pakistan’s manufacturing companies, by using questionnaire. Structural Equation Modeling was used to determine the relationship between the variables of proposed research model. The findings show that the manufacturing strategies of competitiveness strongly mediate the effect of QMS implementation on financial performance. Moreover, the operational index of quality has the strongest relationship and innovation scored relatively least strong. This paper significantly contributes in literature by providing an empirical evidence from an under researched country like Pakistan. In terms of practical implications, the study provides guidelines for practitioners about the key performance indices that need to be introduced to quantify the impact of a QMS for attaining competitive advantage.