Interest in B2B supply chain transparency has climbed in the wake of the disruptions caused by the COVID-19 pandemic. Certainly, consumer product marketers have felt the pressure toward transparent supply chains more keenly. But B2B manufacturers will also find a competitive advantage in pursuing supply chain transparency.
In this post I cover why and how manufacturers are building more transparency into supply chains. If you’re looking for reasons to increase transparency and ways to achieve it, read on. But, first, I offer a definition of supply chain transparency based on a Harvard Business Review article.
Transparency and visibility in the supply chain relate, but they are not exactly the same. Visibility starts the process of awareness, and transparency extends it to full knowledge and performance sharing. Transparency both requires and builds mutual trust.
Efforts toward supply chain transparency have been driven by two key goals:
Let’s look at each of these factors separately.
Essentially, when you, as a manufacturer, engage in ESG practices, you reduce some types of risk.
A supply chain infused with trust from end-to-end will foster better reliability for several reasons:
In the end, suppliers and customers will be more likely to come directly to you to resolve issues. This direct approach will avoid countless headaches and lost business.
Rather than being an end point, supply chain transparency is a continuous process with risks and benefits. Tackling this enormous task too quickly could lead to more risks than benefits.
If your company wants to move toward greater supply chain transparency, there are steps you can take.
According to the HBR article, these steps will move you toward your goal:
Think of these steps as a continuous process. Each subsequent iteration will yield more refined results.
Once you develop transparency in your supply chain, communicate that out to your customers via digital marketing. Create content for your website and social media related to both transparency and sustainability.
B2B supply chain transparency will provide a competitive advantage inherently, and you can boost that advantage by finding ways to talk about your progress.
Remember, progress, not perfection. We’re all learning from each other along the way.
Do you have thoughts to share?
With over two decades of experience, Parin leads an expert demand-generation agency, StratMg, that helps industrial manufacturing clients achieve unambiguous and quantified organic sales growth across the US, EMEA & APAC.
Parin has built & positioned StratMg to be a value-added marketing services provider that strives to create a culture of quantified sales-driven marketing initiatives leading to sustained business growth through channel management, diversification, new customer acquisition and retention strategies and tactical execution.