Commercial excellence and pricing discipline

“There are certain examples, certain places where we sell products into a distributor or into a customer, but those customers, they should be buying a different product from us, but they don't.”

“So in the near-term we have to focus on commercial excellence to sell more of what we currently offer, and that means better sales force and distributor effectiveness, targeted marketing, optimized pricing, and much better execution at the customer interface, in particular, on time, in full performance, which is a key part of my second priority, operational performance.”

“We've done a very good job at the covering inflation and we'll see some incrementally positive pricing this year. But when you get down to a granular level there's some disconnects between pricing and discounts and margins to the volume or size of the customer and we have an opportunity to take a harder look at that.”

“One of the fundamentals is commercial execution, and we're beginning to make progress in this area. For example, in Safety & Industrial, we launched a campaign to drive cross-selling at our channel partners with some encouraging early results.”

“We're working on pricing and reinstituting some price corridors and changing our governance process on pricing.”

“One area of particular focus is cross-selling. We now have more than $40 million of opportunities in our pipeline across 23 product pairs, tracking well against the $100 million and 50 pair goal through 2027 that Chris described at Investor Day.”

“We're making progress on our commercial excellence objectives with standardized operating rhythms, improved target setting and performance measurement, and tighter pricing governance.”

“We're exercising a new commercial excellence muscle with a much tighter alignment across the supply chain, and we're institutionalizing the March opt tempo to execute at that pace in every month of the quarter and every week of the month.”

“We continue to believe we can grow above macro due to progress on all our commercial excellence initiatives and focus on new product introductions.”

“We've trained over 400 sales managers and see early results through higher closed on opportunities and improved order rates. We now have 48 cross-selling pairs identified, about double since Q1 with a pipeline value of over $60 million and $10 million of new orders booked to date.”

“we're now extending this 3M enterprise-wide commercial excellence model across the organization with transportation electronics quickly leveraging the learnings and best practices from I while adapting it to the unique nature of a more spec-in type business.”

“SIBG has been first out of the gate on commercial excellence initiative, and we're seeing promising early results with average daily order rates up low single digits in Q2.”

“We expect price to be positive in Energy & Transportation in the second half. And that will offset any weakness that we may see in Construction Industries.”

“Yes, and so on the price realization point, this really is relating to the post sales merchandising programs that we discussed a little bit in the third quarter. I’d remind you just that, as I explained in the third quarter, that will take about a year to flow through”

“Price was more unfavorable than we had anticipated as our attractive merchandising programs stimulated higher-than-expected sales to users in North America.”

“Price will be above 3%. I would say most likely three and a half depending on geography and the vertical we're deploying 3% to 4%.”