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This study presents a review of literature on the usage of artificial neural networks (ANNs) architecture contribution method and structural equation modeling (SEM), and proposes a new selection process in the context of algorithm -based SEM-ANNs schemes. This study enriches academic literature by providing a review of all the main aspects of customization in ANNs and contribution methods in combination with SEM. Academic databases are examined for exhibition findings, yielding 253 papers published between 2016 and 2022. The retrieved papers are categorized according to inclusion criteria, and the final set of 73 articles are discussed based on two directions, namely, 'Sector-based' and 'Algorithm-based' as a new representation of taxonomy research. A state-of-the-art bibliographic analysis is presented. This review also identifies modern challenges and open issues in terms of multiple evaluation criteria, importance criteria, and data variations related to the selection of customizations in ANNs and contribution methods combined with SEM in different industrial cases. Several issues fall under multicriteria decision making for handling complexity problems in different ANNs and contribution methods. Thus, this study also presents a research proposal and recommends a solution based on a three-phase methodology for handling the selection and overcoming the identified issues, subsequently completing a strategic guideline solution. [ABSTRACT FROM AUTHOR]