NGen supercluster funds supply chain resiliency platform
NGen stated that 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.
Research & Development
Technology / IIoT
research and development
supply chain crisis
TORONTO — Next Generation Manufacturing Canada has announced $8 million in collaborative funding for a project led by Canadian technology company ThinkData Works Inc. in partnership with Palantir Technologies Canada and auto parts producer Martinrea International.
The company stated that they expect 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.
NGen stated that it is using a combination of ThinkData’s external data assets, data management software, and Palantir Canada’s AI and analytics capabilities to develop a Supply Chain Resiliency Platform to analyze, predict and alert manufacturers of potential disruptions. In addition to alerting, the program will also recommend preventative measures.
According to NGen, the solution 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.
“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,” said Bryan Smith, CEO, ThinkData in a statement.
Martinrea stated that it estimates 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 in a statement.
Additionally, NGen stated that 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.