This paper explores and extends the concept of transparency, as transparency-related terminology in marketing management research is limited in its typological development. Building on previous research, it outlines four types of transparency and extends them by adding three related facets. The four types are: cost transparency, supply transparency, organizational transparency and technological transparency. The expanded concept of transparency is discussed and analyzed using four illustrations, based on case studies conducted at two focal firms in the Swedish manufacturing industry. The study contributes to the field of marketing management research by showing the interrelatedness of information technology exploitation, trust and transparency. In addition, the study highlights the dynamic aspects of the transparency concept. In contrast to results of former studies, the present findings indicate that increased transparency in buyer–supplier relationships brings about not only positive, but also some negative effects.