Palantir and 3M Expand Relationship to Build Dynamic Supply Chain
Palantir Technologies (NYSE:PLTR) has announced a multi-million dollar expansion of its partnership with 3M. The expansion will enhance 3M's use of Palantir's Foundry platform, aiding in a dynamic supply chain aimed at improving responsiveness to market changes. Key executives highlighted the importance of this relationship for digital transformation amid global demand fluctuations. This deal builds on existing support in supply chain alerting, demand forecasting, and strategic business planning, enhancing 3M's operations.
- Multi-million dollar contract expansion with 3M indicates strong demand for Palantir's Foundry platform.
- Supports 3M's digital transformation, enhancing efficiency in supply chain operations.
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Palantir Technologies Inc. (NYSE:PLTR) today announced a multi-million dollar expansion of its relationship with 3M. 3M has chosen to expand its use of Palantir's Foundry platform to support its digital transformation, assisting in the build out of a dynamic supply chain that enables the global manufacturer to respond nimbly to changes in demand across tens of thousands of products.
“In an increasingly complex world, the success of our business depends on our ability to respond quickly to changing facts on the ground,” said Brig Knott, 3M’s Vice President, End to End Service, Operations & Lean Six Sigma. “In the midst of a global pandemic and significant changes to our demand across products, the Foundry platform enabled us to react quickly and effectively. We’re excited to expand this work across the 3M enterprise.”
“3M has been at the forefront of digital transformation, and we’re excited to deepen our relationship with this innovative and global company,” said Alex Karp, co-founder and CEO of Palantir.
This expanded relationship builds on the work Palantir already supports across 3M’s efforts in supply chain alerting, demand forecasting and business planning. “Palantir has played an important role for our Enterprise Operations digital migration strategy; we’re eager to keep pushing the boundaries to ensure a continued focus on our customers,” noted Shaun Braun, 3M’s VP of Digital Transformation.
About Palantir Technologies Inc.
Palantir Technologies is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
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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