Palantir and C&A Develop AI Model for Smarter Inventory Management
Palantir Technologies Inc. (NYSE: PLTR) and C&A Modas S.A ("C&A"), a major global fashion retail chain, have unveiled a collaborative Integrated Management Flow system built on the Palantir Foundry platform. This software will benefit C&A by improving assertiveness and enhancing the agility of their inventory controls, with notifications to reorder best-selling items. In this way, it will optimise the company's supply chain.
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On Monday, ARK Investment, owned by Cathie Wood, added about $4 million in Palantir Technologies Inc. shares to multiple funds.
The ARK Innovation ETF (ARKK), ARK Fintech ETF (ARKF) and ARK Next Generation ETF (ARKW) all made sizeable investments in Palantir (PLTR). Together they bought around 340,000 shares of the company, worth $2.9 million, $642,000 and almost half a million respectively.
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"We are the first Brazilian fashion retail brand to rely on this artificial intelligence technology. The flow developed allowed us to optimize and speed up the entire purchase process: from the initial planning, to sending the products to the stores. Among the significant gains, I'd highlight the increase of sales of products that were in stock and the reduction of unnecessary overstock," said Bruno Ferreira, Planning and Business Intelligence Director for C&A Brazil.
Palantir deployed the Foundry software over a three-month period, which allowed C&A to reconcile many variables that impact profitable inventory planning such as sales seasonality, product performance discrepancies and financial objectives. As a result, they identified multiple options to improve their management of their top-selling items, incorporating even new models.
"We formed a Digital Twin of the company's logistics chain, giving the planning teams not only a complete view of the purchasing process, but also the power to quickly simulate new rules and scenarios, and thus prevent extreme situations," explains Henrique Valer, Head of Palantir LatAm.
Palantir's software is leverage in critical supply chains across the world. Foundry, an AI-driven operations platform, can accelerate already established technology investments to unite disparate planning and execution functions, heighten inventory administration, and bolster the resilience of supply chains in face of economic or geopolitics disturbances.
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