Recent KPMG surveys focusing on megatrends in manufacturing have repeatedly highlighted the move toward greater transparency and collaboration across the supply chain.
Moving away from command and control models of communication and toward credible two-way engagement will become the new norm, as companies seek to develop a marketing edge and point of difference in ever more competitive marketplaces.
This means the silo approach to communication that is often taken by the b2b / manufacturing sector is not sustainable. The traditional communication model that focuses primarily on pushing out product information or engaging on a “need to know” basis is evolving to take a more holistic approach.
As good communication is increasingly seen as an asset that can add market and shareholder value, strategic, credible communication and engagement with stakeholders both within and outside the company becomes non-negotiable.
Companies that approach communication as a low priority function carried out at a tactical level will find their market position undermined by customer-centric companies that embed authentic, credible and consistent communication and brand building across all touch points of their business.
This ensures effective and timely communication with all target audiences which is particularly important in critical areas such as supply chain management.
With triple bottom line reporting recognizing the value of operating sustainable, responsible businesses, and in a world where everyone and everything is connected, the manufacturing sector can’t afford to pay lip service to its reputation management.
And as customers, suppliers and business partners increasingly expect transparency, and potential employees seek to work for companies that demonstrate high ethical standards, those that not only do the right thing, but are seen to be doing it – will stand out from the crowd.
*KPMG Megatrends Survey 2013 and Global Manufacturing Outlook (2014 and 2015)