 MICHAEL A. REGAN, CHAIRMAN & CEO
TRANZACT
The founder of freight-payment service Tranzact, Mike Regan also serves as chairman of the American Society of Transportation and Logistics (AST&L) and on the board of the National Industrial Transportation League, where he is chairman of the education committee; on the board of the National Association of Small Shipments Traffic Conference (NASSTRAC), where he is chairman of the advocacy committee; and on the executive committee of the Transportation Intermediaries Association (TIA). Regan has been inducted into the Chicago Area Entrepreneurial Hall of Fame, and in 2002 was named Delta Nu Alpha’s Transportation Professional of the Year.
Q: What do you consider to be your greatest accomplishment personally and in the logistics field to date?
A: Starting Tranzact in 1984 and building it into the largest privately held freight payment company (prior to the sale of the freight payment unit in March 2000), while raising four kids and cultivating my marriage of 27 years with my wife, Jean.
Q: What do you consider to be the greatest obstacles, moving forward, to greater supply chain optimization?
A: Logistics and supply chain professionals need to realize, understand and act on the fact that their job responsibilities have changed and require a much greater emphasis on strategic versus tactical issues. There is a much greater need for them to demonstrate leadership in developing supply chain initiatives. This can be a daunting task for someone who has been hired or trained as a manager where the emphasis is on managing or incrementally improving existing processes.
Q: What key personal attributes have contributed to your success?
A: There are four attributes. I love meeting and working with people. I have a passion for learning. I’m not afraid to accept risks, and I’ve been blessed with some great mentors, who took an interest in my personal growth and development and encouraged me to read, listen, assimilate and act on what I’ve learned. |
