Cin7, the industry-leading inventory and order management software provider, announced the acquisition of Inventoro, a leading provider of AI-driven sales forecasting and replenishment optimization solutions. The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to state-of-the-art AI technology, enabling customers to enhance existing inventory and order management capabilities with intelligent prediction and optimization.
Overstocking and similar inefficiencies are estimated to drive $163 billion in losses each year for global product sellers. Coupled with the increasing demand for AI-powered forecasting and insights, Inventoro’s offering is a valuable addition to Cin7’s feature set. The actionable insights and increased visibility into performance provided by the combined capabilities help customers optimize performance across channels and minimize impacts from overstocking and stock outs.
“Inventoro’s AI forecasting and optimization capabilities are a perfect complement to Cin7’s robust inventory management solutions,” said Ajoy Krishnamoorthy, Cin7’s CEO. “Together, we’ll provide customers with unprecedented inventory intelligence so they can maximize sales, minimize excess stock, and make informed decisions across their operations.”
“We bonded with Cin7 immediately the day we first met, and this transaction is a natural progression of our proven line of cooperation. The two products together amplify our efforts to help SMB product sellers and manufacturers, ultimately connecting them to one large, efficient supply network while reducing waste and supporting local economies along the way” said Tomas Formanek, Inventoro’s founder and CEO.
Inventoro’s innovative AI-powered forecasting technology accurately predicts future product demand, providing daily updates on key optimization performance and insights on which products drive profits. Together with Cin7’s end-to-end inventory management software, sellers will gain invaluable visibility into their product availability and inventory capital. This enables sellers to make fast, impactful decisions in a way that was not previously possible, a significant advantage against competitors. By combining Cin7’s inventory management platform and the power of Inventoro’s AI-powered forecasting, the future of inventory intelligence is here.
This announcement comes at the dawn of a new age of growth for Cin7, marked by the recent appointments of Ajoy Krishnamoorthy to Chief Executive Officer and Nolan Smith to President and Chief Operating Officer.
