NESTLE INTERNATIONAL AWARDED OMNIQ A PURCHASE ORDER FOR THE SUPPLY OF RUGGEDIZED IOT EQUIPMENT TO NESTLE’S ADVANCED LOGISTIC CENTER
OMNIQ Corp (OMQS) receives a significant purchase order from NESTLE International, a major food and beverage company, for mobile data collection and communication equipment. This order highlights the trust and commitment of leading global corporations in adopting innovative technologies to enhance their operations.
OMNIQ Corp's recent order from NESTLE International signifies a noteworthy development in the domain of supply chain optimization, particularly within the food and beverage industry. The integration of rugged forklift-mounted mobile computers and barcode readers is expected to streamline NESTLE's logistics operations in Israel, enhancing the efficiency and accuracy of inventory management and data collection processes. Such advancements in logistics technology are critical for large corporations like NESTLE, where the ability to manage perishable goods effectively can directly influence profit margins and operational costs.
The implementation of AI-based solutions in supply chain management is becoming increasingly prevalent, leading to a reduction in human error and an increase in productivity. For investors, this partnership between OMNIQ and NESTLE may signal a potential for growth in OMNIQ's market share and an opportunity to establish a stronger foothold in the industry. However, it is essential to monitor the execution and integration of these systems to ensure they deliver the promised efficiencies and cost savings.
From a financial perspective, OMNIQ's announcement of securing an order from a prestigious client such as NESTLE is likely to resonate positively with investors and could influence the company's stock performance. The news of consecutive orders from SPAR and other notable US chains suggests a growing confidence in OMNIQ's solutions, which might lead to an upward trajectory in sales and potentially an expansion of profit margins. Investors should consider the scalability of OMNIQ's technology and its adaptability to different market segments, as these factors can be indicative of the company's long-term financial health.
Nevertheless, it is important for investors to assess the sustainability of these partnerships and the impact of the initial costs associated with the deployment of OMNIQ's technology on the company's balance sheet. The actual impact on OMNIQ's financials will become more apparent in subsequent earnings reports, which should be scrutinized for evidence of revenue growth and margin improvements directly attributable to these new contracts.
The technological implications of OMNIQ's solutions for NESTLE's advanced logistics center are substantial. The rugged mobile computing devices and barcode readers represent an evolution in industrial logistics technology, emphasizing durability and the integration of AI for data management. Such technology is particularly relevant in environments where equipment is subject to harsh conditions and needs to withstand significant wear and tear.
For stakeholders, the reliability and performance of these devices will be key metrics to watch. The ability of OMNIQ's equipment to deliver on its promises of improved logistics efficiencies can serve as a benchmark for future adoption by other companies in the industry. As the market for AI-enhanced supply chain tools grows, OMNIQ's technological advancements and their reception in the market could provide insights into emerging trends and the potential for new product developments within the sector.
03/26/2024 - 08:30 AM
NESTLE, headquartered in Switzerland, is one of the largest food and beverage corporations in the world, with over $93B in revenue and a $275B market cap. OMNIQ’s awarded solution becomes the logistic management platform of NESTLE’s refrigerated and frozen products in its advanced logistic center in Israel. This order follows orders from other leading US and European-based corporations that chose OMNIQ’s solutions to support their operations. Including the recently announced order from SPAR, a supermarket chain that comprises more than 13,900 stores in over forty-nine countries, an order from a major U.S.-owned restaurant chain, and the contract to upgrade the IOT equipment at 450 stores of a major U.S. sporting goods chain. Salt Lake City, UT, March 26, 2024 (GLOBE NEWSWIRE) -- OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or “the Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based solutions, received a purchase order from NESTLE International, one of the largest food and beverage companies in the world for the supply of mobile data collection, computing, and communication equipment.
The rugged forklift-mounted mobile computers and barcode readers are designed to enhance the productivity of the logistic workforce by providing the ability to scan inventory and track data using integrated features through mobile devices. The industrial-designed device improves logistics efficiencies by enabling quick and accurate control of data collection, shipping/receiving, and inventory management.
Shai Lustgarten, President and CEO of OMNIQ, stated, "We’re pleased to announce the receipt of this significant order that is a strong vote of trust from a world leader like NESTLE, just a few days after our announcement of the order from SPAR a 13,900 stores supermarket chain and the orders from a well-known U.S.-based 450 sporting stores and from a popular US restaurant chain. These orders demonstrate our customers’ commitment to adapting innovative technologies to serve their own customers in different and innovative ways. We have built a leadership position providing sophisticated technology and effective solutions and view this order as a validation of the value our solutions contribute to the operational capabilities of our customers. We are seeing increased marketplace demand for effective handheld tools to drive supply chain efficiencies and we believe our partnerships and proven reputation as a provider of high-end, rugged computing equipment will continue to result in more opportunities to strengthen our business.”
About OMNIQ Corp.
OMNIQ specializes in advanced computer and machine vision technologies, leveraging proprietary and patented artificial intelligence to offer innovative solutions. The Company’s comprehensive suite of services includes sophisticated data collection systems, real-time surveillance, and monitoring solutions tailored to a broad spectrum of sectors, including supply chain management, homeland security, public safety, traffic, and parking management
The Company caters to a diverse range of clients, from government bodies to prestigious Fortune 500 companies operating in various sectors such as manufacturing, retail, healthcare, distribution, transportation, logistics, food and beverage, and the oil, gas, and chemical industries. By integrating OMNIQ Corp.’s state-of-the-art solutions, these entities have been able to navigate the complexities of their respective fields more effectively, significantly improving their operational efficiency.
The Company has made notable strides in fast-growing markets, including the Global Safe City sector, expected to reach $67.1 billion by 2028, the smart parking industry, anticipated to grow to $16.4 billion by 2030, and the fast-casual restaurant market, projected to expand to $209 billion by 2027. These achievements underscore OMNIQ Corp.’s commitment to aligning with sectors experiencing an increased demand for advanced AI technology solutions. For more details, please visit our website at www.OMNIQ.com
Information about forward-looking statements
This press release contains forward-looking statements as outlined by the Private Securities Litigation Reform Act of 1995, particularly under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements discuss anticipated future events, economic performance, and financial results, offering predictions rather than historical facts, based on current expectations and forecasts.
Forward-looking statements in this document, marked by phrases such as “anticipate,” “expect,” “may,” “believe,” and other similar expressions, should not be interpreted as guarantees of future performance.
These projections are made with the information available at the time and reflect the management’s current views on future events. However, they are subject to various risks and uncertainties that could cause the actual outcomes to differ markedly from those outlined or suggested. Factors influencing these outcomes include changes in product demand, the launch of new products, the ability to sustain and grow customer and strategic partnerships, competitive dynamics, market expansion, financial health, debt management, and the successful integration of new acquisitions.
Key forward-looking statements made here include those related to financial strategies, revenue enhancement, and operational efficiencies. For an in-depth examination of risks and uncertainties that could impact OMNIQ Corp.’s future results, we invite you to consult our recent submissions to the Securities and Exchange Commission at https://www.sec.gov
Contact Info: IR@omniq.com
The purchase order signifies a strong vote of trust from a world leader like NESTLE towards OMNIQ Corp's innovative technology solutions for enhancing logistic operations.
Recent orders include SPAR, a supermarket chain with 13,900 stores in 49 countries, a major U.S.-owned restaurant chain, and a U.S. sporting goods chain with 450 stores.
OMNIQ will supply rugged forklift-mounted mobile computers and barcode readers to enhance the logistic workforce's productivity by enabling inventory scanning and data tracking through mobile devices.
Shai Lustgarten expressed pleasure at the significant order from NESTLE, highlighting the company's commitment to providing innovative technology solutions and the value they bring to customers' operational capabilities.
OMNIQ sees the rising demand for effective handheld tools as an opportunity to strengthen their business, leveraging partnerships and a proven reputation as a provider of high-end, rugged computing equipment.
