With the start of week 01 in Jan, many countries are already scrambling for sales as their inventory level has dipped. Massive expedite requests are made to plants and DCs. What a great foresight by PG team which cut inventory to bare minimum. Get ready for more air shipments which benefit the transport companies.
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The ball washer group is lining up in the cafeteria to kiss the We Man's kilt.
Yet another troll
For those slamming Saint Peter, he has more business savvy in his pinkie than all of his critics whining here combined.
The results speak for themselves. In fact, even Bill realizes what a jewel he has in PG. I'm still shocked how he didn't get the CEO job. Either way, 3M has cut some of the wasteful prima donnas (MTE roles were bloated and overpaid).
Carry on Pete. You're following at the cafeteria is growing in leaps and bounds.
So where do you want to make things? You either need to upgrade old plants or build new ones. And it's not like there are a lot of plants with tens of thousands of empty square feet to transfer equipment.
solid shout out to PG, yes some like him some dislike him, but he is hammering home the results, yes there will be another round of layoffs albeit, needed in UK or Europe but old plants should not be updated with wasted millions
@bf+1jgqq3t31 makes a good point, as long as you can ignore many other performance indicators.
PG will prove effective in delivering short term gains in exchange for long term losses of much greater magnitude. The trick is to avoid measuring the losses or hi-lighting the damage to the corporation until he’s either retired or accepted a position with Kearney.
For the past 6 months PG& gang has been able to pat their own shoulders to improve OTIF and inventory. That's easy to cut as the sales are low. Wall street was impressed
Let see how things will turn out in Q1. Backorder will soon climb up. Just wait and see
You are right, inventory vs delivery is always a counterbalance.
The problem is 3M has for years utterly failed to make intelligent decisions about the balance. I've personally witnessed 3M throw away many millions of dollars of saleable product to 'reduce inventory' then go right into backorder for the exact same product 6 months later. Wait a year or two and the cycle repeats ad nauseam.
Instead of proper executives saying to manufacturing "Inventory is climbing, how much can you clean things up?" we have executives saying "You must cut __%, or $___ of inventory, we don't care what it does to sales 6 months from now".
PG is clearly incapable of running 3M manufacturing, that simple fact is shockingly clear. The decision to hire him was iffy, his performance at 3M should have gotten him fired at least 2 years ago.
Is PG nearing the mandatory retirement age? He needs to go.
PG must go for conflict of interest. He laid off many MT and now trying to hiring them back. What a short sight leader. No vision.
those actions were necessary so that layoffs do not continue year after year.
The layoffs have continued year after year.
PG hasn't improved things; he's just collected a fat paycheck (and getting his son paid in the process) while gutting the company and making it harder for people to do their jobs.
PG hired a third-tier consulting firm (Kearney) where his son works to recommend layoffs. His background prior to 3M was working at Starbucks and a toy company. We also know he reads this website. Hi Petey!
This is what happens when you focus on Wall Street and not the customer.