Toronto, Ontario — In what looks kind of like “Minority Report” for the auto industry, Vaughan, Ont.-based auto parts manufacturer, Martinrea International has joined forces with Next Generation Manufacturing Canada (NGen) to develop a “supply chain resiliency platform” to predict and inform manufacturers, and in turn, the industry, of potential disruptions.
This announcement comes alongside an $8 million funding injection from NGen for the project that will be led by ThinkData Works Inc., along with Palantir Technologies Canada.
Through this partnership, the companies feel they will be able to utilize Palantir Canada’s AI capabilities to create a risk mitigation platform based on real-world analytics and that is able to inform manufacturers of supply chain updates instantly.
ThinkData’s CEO Bryan Smith said “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.”
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 executive v-p of procurement and supply chain operations for Martinrea, Megan Hunter.
No timeline has been provided yet for the release of the platform.