Power Tool Industry June 2021
Stanley Black & Decker
Managing both short-term profitability concerns and long-term sustainability goals is complicated even more by a global crisis, according to SB&D CEO Jim Loree. Loree told the Financial Times that Environmental, Social and Corporate Governance (ESG) is even more important during trying times. He said that they could not be more committed to the ESG program they began about five years ago. SB&D was named to the 100 Best Corporate Citizens for their outstanding environmental, social and governance transparency and performance among the 1,000 largest US public companies. SB&D ranked number 69 overall and number 8 in the Capital Goods industry. The ranking is based on 146 ESG transparency and performance factors that include climate change, environment, human rights and employee relations.
SB&D highlighted their mentorship program with Techstars by co-hosting a “Demo Day” virtual event to highlight some of the innovators Techstars has discovered and fostered. They featured Peer Robotics, which they described as the first collaborative mobile robot that understands humans through what is known as pathic feedback, which essentially means anyone can deploy the robot right out of the box, steer it along its path and teach it how to perform the task autonomously. There is no need for experts, engineers or training with special devices. That reduces costs and increases accessibility. They also featured Mentor Madness, which developed tracking technology that can be deployed in inventory management. Sensei Analytics was recognized for their new forecasting tool that can be deployed with much less data than normally required, making it more useful for dealing with rapidly changing circumstances such as occurred during the pandemic.
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