Tennant Company Introduces its First Multi-Use Robotic Solution for Retailers

Rhea-AI Summary

Tennant Company (NYSE: TNC) has launched Inventory Scan, an innovative add-on for its robotic floor scrubbers, in partnership with Brain Corp. This technology enables autonomous scanning of retail inventory, thus enhancing operational efficiency. By integrating data collection with floor care, Inventory Scan allows retailers to minimize labor-intensive tasks and improve stock management. The solution employs advanced computer vision to capture real-time data, offering insights on pricing accuracy and product localization. The move underscores Tennant's commitment to innovation and customer-centric solutions.

Positive

• Launch of Inventory Scan to enhance autonomous cleaning and inventory management.
• Partnership with Brain Corp for cutting-edge AI technology.
• Improved operational efficiency for retailers by reducing manual inventory checks.

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• None.

Developed in Partnership with Brain Corp, Inventory Scan Delivers Improved Inventory Analytics

MINNEAPOLIS--(BUSINESS WIRE)-- Tennant Company (NYSE: TNC), a worldwide leader in the design, manufacture and marketing of solutions to reinvent how the world cleans, today announced the launch of Inventory Scan, the Company’s first add-on for Tennant robotic floor scrubbers to provide multi-purpose autonomous solutions for retailers. Developed in partnership with robotics market leader Brain Corp, Inventory Scan is an integrated solution that enables Tennant floor scrubbers to autonomously scan on-shelf inventory.

Tennant Inventory Scan powered by BrainOS®. (Photo Credit: Brain Corp)

“Throughout its 150-year history, Tennant Company has helped advance the cleaning industry through the relentless pursuit of new technology,” said Dave Huml, Tennant Company’s President and Chief Executive Officer. “Our commitment to innovation is a key element of our enterprise strategy and is focused on solving the real-world challenges our customers face. Inventory Scan fills an enormous AI and data-process gap for retailers by providing an effective and reliable solution for capturing high-quality inventory and store-mapping data. It also eliminates the need for potentially disruptive infrastructure, like shelf cameras and drones.

“By adding data-collection functionality to our AMR floor scrubbers and integrating with a retailer’s existing inventory management system, we can meaningfully improve how retail stores operate. Inventory Scan allows retailers to be more efficient by minimizing the need for labor-intensive, manual approaches and helps ensure shelves remain stocked. Our vision is that data collection and floor care will become fully automated so that our customers can focus on managing their businesses and meeting the needs of their customers.”

Inventory Scan uses sophisticated computer vision and analytics technologies to capture high-quality inventory and store-mapping data. It collects real-time, on-shelf data to enable smart, data-driven inventory management and operations. Once installed on a scrubber, the cloud-connected Inventory Scan tower is able to capture data as it moves autonomously around a location. Reports are then delivered to location managers to provide numerous insights, including verification of pricing accuracy, planogram compliance, product stock levels and product localization.

About Tennant

Founded in 1870, Tennant Company (TNC), headquartered in Eden Prairie, Minnesota, is a world leader in designing, manufacturing and marketing solutions that empower customers to achieve quality cleaning performance, reduce their environmental impact and help create a cleaner, safer, healthier world. Its products include equipment for maintaining surfaces in industrial, commercial and outdoor environments; detergent-free and other sustainable cleaning technologies; and cleaning tools and supplies. Tennant's global field service network is the most extensive in the industry. Tennant Company had sales of $1.0 billion in 2020 and has approximately 4,300 employees. Tennant has manufacturing operations throughout the world and sells products directly in 15 countries and through distributors in more than 100 countries. For more information, visit www.tennantco.com and www.ipcworldwide.com. The Tennant Company logo and other trademarks designated with the symbol “®” are trademarks of Tennant Company registered in the United States and/or other countries.

Forward-Looking Statements

Certain statements contained in this document are considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements do not relate to strictly historical or current facts and provide current expectations or forecasts of future events. Any such expectations or forecasts of future events are subject to a variety of factors. These include factors that affect all businesses operating in a global market as well as matters specific to us and the markets we serve. Particular risks and uncertainties presently facing us include: geopolitical and economic uncertainty throughout the world; uncertainty surrounding the impacts and duration of the COVID-19 pandemic; our ability to comply with global laws and regulations; our ability to adapt to customer pricing sensitivities; the competition in our business; fluctuations in the cost, quality or availability of raw materials and purchased components; our ability to adjust pricing to respond to cost pressures; unforeseen product liability claims or product quality issues; our ability to attract, retain and develop key personnel and create effective succession planning strategies; our ability to effectively develop and manage strategic planning and growth processes and the related operational plans; our ability to successfully upgrade and evolve our information technology systems; our ability to successfully protect our information technology systems from cybersecurity risks; the occurrence of a significant business interruption; our ability to maintain the health and safety of our workers; our ability to integrate acquisitions; and our ability to develop and commercialize new innovative products and services.

We caution that forward-looking statements must be considered carefully and that actual results may differ in material ways due to risks and uncertainties both known and unknown. Information about factors that could materially affect our results can be found in our 2020 Form 10-K. Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.

We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Investors are advised to consult any further disclosures by us in our filings with the Securities and Exchange Commission and in other written statements on related subjects. It is not possible to anticipate or foresee all risk factors, and investors should not consider any list of such factors to be an exhaustive or complete list of all risks or uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220126006006/en/

Fay West

SVP, Chief Financial Officer

fay.west@tennantco.com

763-540-1600

Source: Tennant Company

FAQ

What is Inventory Scan by Tennant Company?

Inventory Scan is an add-on for robotic floor scrubbers that autonomously scans retail inventory, developed in partnership with Brain Corp.

How does Inventory Scan improve retail operations?

It enhances efficiency by minimizing labor-intensive tasks and providing real-time inventory data.

What technology powers Inventory Scan?

The solution utilizes advanced computer vision and analytics technologies to capture on-shelf inventory data.

When was Inventory Scan launched?

Inventory Scan was announced in January 2022.

What stock symbol represents Tennant Company?

Tennant Company trades under the stock symbol TNC on the NYSE.