On this blog, we frequently discuss how to achieve greater supply chain visibility and transparency. But why should you care? What's so great about transparency?
Well for starters, customers want it! Consumers are becoming increasingly concerned with the origins and manufacturing processes behind their favorite products, and they are no longer content to accept a half-true answer. When customers want something, doing it makes your company stand out from the rest, and it increases the satisfaction of your customers' experiences. In that way, supply chain transparency is a competitive advantage for companies.
Companies have found various ways to increase their supply chain visibility and transparency. Many companies utilize RFID tags or blockchain technology to track an item's movement through the supply chain. Walmart, working with one of its textile suppliers, established webcams in their factories which could be viewed by customers to see how the fabric was being made, and by whom. Other retailers are working to make inspection reports public for customers to review.
As more and more companies aim to increase supply chain transparency, customers expectations will rise in turn. Ultimately transparency will no longer be an option, but an obligation to stay in business, ensure product safety, and maintain customer satisfaction.