Technology leaders ThinkData Works Inc. and Palantir Technologies Canada have partnered with Martinrea International to develop an industry-wide platform for supply chain resiliency that will help manufacturers predict, prevent, and mitigate disruptions.
TORONTO, Jan. 18, 2022 /CNW/ – Next Generation Manufacturing Canada (NGen), the industry-led organization behind Canada’s Advanced Manufacturing Supercluster, has announced $8 million in collaborative funding for a project led by Canadian technology company ThinkData Works Inc. (“ThinkData”), in partnership with Palantir Technologies Canada (“Palantir Canada”), and auto parts leader Martinrea International (“Martinrea”).
The current global supply chain crisis will continue to negatively impact commerce in 2022 and beyond, increasing the need for a solution that safeguards manufacturers against risks and disruptions.
Through a combination of ThinkData’s external data assets, data management software, and Palantir Canada’s AI and analytics capabilities, a Supply Chain Resiliency Platform is being developed to intelligently analyze, predict, and alert manufacturers of potential disruptions – as well as recommend preventative measures.
The solution, which Martinrea will be first to adopt, will model complex supply chains, layer on global supply chain events data, and flow in alternative supplier catalogs. The platform provides a centralized view with predictive analytics, real-time alerts, and recommended actions. “Powerful AI fuelled by external data gives manufacturers a competitive edge, and the ability to avoid potential supply chain disruptions before they occur. It’s a game-changer for the industry.” says Bryan Smith, CEO, ThinkData.
“We are excited to be part of this initiative with Martinrea and ThinkData Works,” said David MacNaughton, President of Palantir Canada, “Palantir has helped some of the world’s most complex organizations transform their supply chain operations, with positive industry impacts.
Martinrea estimates that outcomes will include more than $40 million in annual value from avoided disruptions and optimizations. “We are very excited to develop this platform in collaboration with ThinkData and Palantir Canada, and to solve concrete problems through digital innovation.” said Megan Hunter, Executive Vice President of Procurement and Supply Chain Operations, Martinrea.
The platform is expected to drive economic growth, create new jobs, and provide a competitive advantage for both Canadian and international manufacturers as well as local suppliers.