Thyssenkrupp Materials acquires data analysis firm

Thyssenkrupp Materials Services has acquired data analysis and data science company Westphalia DataLab GmbH. With the purchase, the materials distributor expects to strengthen its expertise in digital supply chain services and accelerate the development of concrete solutions, Kallanish hears.

As part of its “Materials as a Service” strategic development, tk Materials is investing in new digital business models, particularly in supply chain services. “The potential for digital solutions to make supply chains more resilient and reduce CO2 emissions is huge. Against the background of the dynamic market environment, we are focusing on innovations here and opening up new business areas,” says Ilse Henne, the company’s chief transformation officer.

As an example, the firm cites forecasting solutions used to improve service levels for customers and reduce their inventories with the help of data analysis along the supply chain. One project in this area is the Artificial Intelligence-based solution “Pacemaker”, which is currently being further developed.

Westphalia DataLab was founded in Münster in 2017 and offers its customers consulting and development services in the field of data science. In 2020, the company won the German Artificial Intelligence Award.

Christian Koehl Germany