3 Topics all Executive Reviews should Consider
An Executive Business Review is an annual meeting in which senior-level individuals discuss where the company is in terms of its annual plan and to reset the company’s expectations.
To create a healthy supply chain the company must be aligned with its service provider. During this meeting it is imperative that C-level leaders are caught up with changes and plans are re-aligned to fit overarching goals. Although more than C-level executives may attend an EBR, they are the real focus of this endeavor.
You can use the opportunity to showcase what has been successful, demonstrate issues that have been mitigated, educate and discuss business continuity, and even discuss new opportunities, initiatives, and improvements. Make sure the following topics are covered during your next annual review to ensure all goals and initiatives for your organization continue to be met:
1. Goals-Based Progress
The first commonality is the discussion surrounding goals-based progress. It is very important that when discussing the company’s performance that you are totally candid in terms of how you think you’ve measured up. To do so it is important to provide data including KPIs in order to highlight your successes and challenges. Just remember that one of the most important aspects of discussing progress is to allow others the opportunity to provide honest feedback. No one person can be everywhere at once; without honest feedback you won’t always know what’s not working in order to remedy it.
2. Operational Efficiency
Everyone makes mistakes. So what were yours? Where did the business slip up? Just as it’s important to discuss the progress you have made towards your goals, discussing your operational efficiency and the mistakes that have hindered optimal efficiency is extremely important. You can use data through visuals such as graphs and reports to demonstrate your point. Now’s the time to speak up!
3. Strategic Changes Going Forward
Once you have done a great job of providing the important data and discussing goals-based progress, what you have done right, what you have done wrong, and the challenges that you face, it is important to create a follow up plan for actionable items. Communication is key so be sure to discuss how best to communicate these strategic changes going forward. You can also set up a meeting or a follow-up of some kind. Maybe this is a good time to schedule the next quarterly business review (QBR). No matter what, this is the time to set expectations and next-steps to ensure that no one drops the ball.
Optimize the Results in your Partnership
Achieve your goal of efficiency and health in your supply chain by having regular quarterly and annual reviews with your outsourced provider. Everyone being on the same page will get you closer to your goals with less hassle.