AI software Foundry will maximize the retail giant's inventory
DENVER, May 23, 2023 /PRNewswire/ -- Today, Palantir Technologies Inc. (NYSE: PLTR) ("Palantir"), a leading builder of operating systems for the modern enterprise, and C&A Modas S.A ("C&A"), one of the largest retail chains in the fashion world, announced the development of an Integrated Management Flow system using the Palantir Foundry platform. The software helps increase C&A's ability to reinforce assertiveness and speed of inventory through alerts regarding restocking products in their portfolio of best-selling pieces, optimizing the company's supply chain.
"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.
Over the course of three months, Palantir implemented the entire flow of ingestion, processing and generating purchase recommendations for all best-selling products, including new models. The Foundry software reconciled numerous variables that influenced long-term inventory planning, sales seasonality, product performance variations, financial criteria, and other factors. Through this process, C&A identified several opportunities to improve inventory management of its best sellers.
"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 the backbone of critical supply chains across the globe. Foundry — a platform for AI-powered operations — supercharges existing technology investments to bridge siloed planning and execution processes, optimize inventory management, and help build supply chain resilience for economic and geopolitical uncertainty.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
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SOURCE PALANTIR TECHNOLOGIES INC.
