3M Standard Payment Terms updated to Net 120

At 3M, we are dedicated to delivering exceptional products and services to our customers. In a competitive market, our customers rely on us to continuously innovate and add value. Therefore, 3M is implementing measures to streamline our internal costs. We have launched a strategic procurement initiative aimed at finding new ways to meet our customers’ needs and enhance our global supplier cost base. This involves a thorough review of all suppliers and cost structures.

In line with 3M’s ongoing focus on improving working capital and staying competitive with market trends, we are implementing a standard payment term of Net 120 Days. These terms apply to all purchase orders (POs), contract renewals, or new contracts, without any corresponding price increases. We appreciate your cooperation in adhering to these payment terms.

The goal of this initiative is to build stronger strategic partnerships with key suppliers who are committed to enhancing our competitive advantage through greater value, improved quality, innovation, enhanced services, and a focus on continuous improvement across our spending categories.

If you have any further questions, please contact your 3M Procurement category owner.

Thank you for your continued partnership.