Enterprise software vendor Epicor on Wednesday said it had acquired Smart Software, a provider of cloud-based, AI-driven inventory planning and optimization (IP&O) applications.
According to Austin, Texas-based Epicor, the move accelerates its delivery of ERP solutions that provide practical application of AI across the spectrum of business operations for the make, move, and sell industries.
“In today’s fast-paced and constantly evolving supply chain landscape, effective inventory management is critical for success,” Epicor CEO Steve Murphy said in a release. “The Smart Software acquisition further accelerates our focus in transforming traditional ERP from a system of record to a system of action, giving Epicor customers AI-powered capabilities to turn inventory into a competitive asset that helps drive up customer service levels and drive down costs.”
Financial terms were not disclosed.
Massachusetts-based Smart Software is an existing Epicor ISV partner, so its solutions are already integrated with several Epicor ERP platforms.
Smart Software says its technology uses probabilistic AI and machine learning models to deliver superior forecasting and “what if” analysis. Its models run thousands of simulations of outcomes to deliver precise predictions and avoid unrealistic assumptions, enabling users to better predict demand, stockout risks, and costs. That approach improves forecasting accuracy, helps users identify and correct inventory imbalances, predict future operational performance, and track actuals. Customers also can use “what if” analysis to test and risk-adjust stocking policies to ensure alignment with their strategic objectives, the firm says.
