Categories: Projects

3M to Advance Operating Model

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As the global economy shifts in the wake of the COVID-19 pandemic, 3M is advancing its operating model, streamlining its business, and focusing on global trends where the company will apply science to life in new ways to drive sustainable growth.

“The COVID-19 pandemic has advanced the pace of change and disrupted end markets around the world, increasing the need for companies to adapt faster,” said Mike Roman, 3M chairman and chief executive officer.

“At the same time, we are seeing significant opportunities from our new operating model which we launched at the start of the year. As a result, we are taking further actions to streamline our operations, positioning us to deliver greater growth and productivity as global markets emerge from the pandemic.”

In January 2020, 3M launched a new global operating model – a significant step in the company’s transformation – which has evolved the way 3M works, enabling the company to be more customer focused and responsive, helping 3M to lead during the pandemic.

With the actions 3M is announcing, the company will further enhance its operations and marketing capabilities. In operations, they will eliminate redundancies and better use analytics to drive additional efficiencies. In marketing, they will also build on its success in utilising data insights, accelerating global marketing programs, and activating digital engagements with customers.

The company are expecting that they will be better positioned to take advantage of global market trends in e-commerce, personal safety, health care, automotive electrification, and home improvement. At the same time, the company plans to de-prioritise investments in end markets where growth is slower.

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