In a recent webinar called What the Board Wants to Know About Your Supply Chain, several well-seasoned logistics executives shared their experiences and advice for communicating upwards. Whether their insights come as great tips or great reminders, they’re worth hearing.
At the beginning of this webinar, TranzAct’s Co-Founder Mike Regan highlights that communicating upwards well is critical to your career, and that executives are spending a lot more time on supply chain management than before the pandemic. Our panelists echoed that the executives at their company are more focused on logistics than ever before. Here are a few of the insights they shared for making sure their updates go well.
Insight 1: Give Regular Updates and Prevent Surprises
Several panelists shared how they provide regular communication to different groups. For some this means weekly, and for others this could be as much as daily depending on current activity levels. A key intent behind these updates is to make sure there are no surprises. One panelist covers everything that’s happening mode by mode, so that executives in his company aren’t surprised either by anything happening at the company or in the news.
Insight 2: Understand How Your Actions Impact Company Metrics
Another important point that was discussed during the webinar is the importance of knowing how supply chain decisions and trends are impacting other metrics in the company. Financial metrics are especially important to understand, and this could rely on building a good relationship with the CFO or other financial executives to know their priorities.
Insight 3: Build Trust Over Time
No matter what information is being communicated, it’s important for the person who is presenting it to have built trust over time. This ties in with the first insight of providing regular communication. One panelist mentioned that it’s especially important to be known by the board or other executives if you need to ask for capital expenditures.
To hear more insights on communicating upwards, watch the recording of What the Board Wants to Know About Your Supply Chain.