“This year in our sort of 1% center point of our 0 to 2 guidance, we have positive price within that.”

In context

“tinue watching. And based on what we know right now, the team feels the guide that we have given you, which is for the company as a whole, is fair. Andrew Kaplowitz: Helpful. And then Bill maybe can you talk about 3M's ability to price across its portfolio? When I hear the conversation regarding limited new product intros and R&D, obviously the thought is that can all impact price. So how structurally, how effective can you be and how fast in sort of impacting pricing? And then it's hard not to notice. Consumer, for instance, remains pretty muted. I think that is just the market, but is it particularly challenging to price in that segment? William Brown: That's a very, very good question. From what I can tell last year, we had pretty significant price increases and we did cover inflation. This year in our sort of 1% center point of our 0 to 2 guidance, we have positive price within that. So we continue to see pricing. It's certainly lower than on a year-over-year basis than it was last year. So on a macro basis, our ability to price has been pretty good with capturing back inflation. But what I'm looking at is the more details around how we price by customer, by segment, by product, not just gross price, but net price. So discounts, market development funds, all of those things between gross and net price. And is there an opportunity at the real micro level to price better? My instinct is that there is an opportunity here and this is an area that I'm going to focus a lot of time and attention on that. Sometimes it's training, sometimes it is systems, sometimes it is data visibility. But there's an opportunity on a much more granular level. Take a look at how we price, and”