Home Artificial Intelligence Cin7 Acquires AI forecasting company Inventoro

Cin7 Acquires AI forecasting company Inventoro

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Cin7 Acquires AI forecasting company Inventoro

Cin7, a renowned inventory and order management software provider, has announced its acquisition of Inventoro, a prominent AI-driven sales forecasting and replenishment optimization solutions provider. This strategic move aims to augment Cin7’s platform with advanced AI technology, empowering customers to optimize inventory and order management processes with intelligent forecasting and optimization capabilities.

With global product sellers facing staggering losses estimated at $163 billion annually due to overstocking and similar inefficiencies, the demand for AI-powered forecasting solutions has surged. Inventoro’s expertise in this domain aligns seamlessly with Cin7’s commitment to delivering cutting-edge solutions. By integrating Inventoro’s capabilities, Cin7 seeks to empower customers with actionable insights and enhanced visibility, enabling them to optimize performance across channels and mitigate issues related to overstocking and stockouts.

Ajoy Krishnamoorthy, CEO of Cin7, expressed enthusiasm about the synergy between Cin7’s inventory management solutions and Inventoro’s AI forecasting and optimization capabilities. He emphasized the value proposition for customers, highlighting the potential to maximize sales, minimize excess stock, and drive informed decision-making across operations.

Tomas Formanek, Founder and CEO of Inventoro, echoed Krishnamoorthy’s sentiments, emphasizing the natural alignment between the two companies’ visions. He underscored the shared goal of supporting SMB product sellers and manufacturers by streamlining operations, reducing waste, and fostering efficiency across supply networks.

Inventoro’s AI-powered forecasting technology provides accurate predictions of future product demand, offering daily updates on optimization performance and insights into profit-driving products. When combined with Cin7’s end-to-end inventory management software, customers gain invaluable visibility into product availability and inventory capital, enabling swift decision-making and gaining a competitive edge.

This acquisition announcement coincides with a transformative period for Cin7, highlighted by recent leadership appointments, including Ajoy Krishnamoorthy as Chief Executive Officer and Nolan Smith as President and Chief Operating Officer. As Cin7 embarks on a new phase of growth, fueled by cutting-edge technology and strategic partnerships, the future of inventory intelligence appears promising.