The inventory and order management software vendor Cin7 on Thursday said it had acquired Inventoro, a provider of AI-driven sales forecasting and replenishment optimization solutions.
According to Denver-based Cin7, integrating the two firms’ platforms will allow customers such as product sellers to enhance their existing inventory and order management capabilities with intelligent prediction and optimization.
Terms of the deal were not disclosed. But Cin7 said the acquisition comes at a pivotal time, since the firm recently appointed Ajoy Krishnamoorthy as chief executive officer and Nolan Smith as president and chief operating officer.
The company says that Inventoro's AI-powered forecasting technology 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, the firm said.
"Inventoro's AI forecasting and optimization capabilities are a perfect complement to Cin7's robust inventory management solutions," Krishnamoorthy said in a release. "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. By combining Cin7's inventory management platform and the power of Inventoro's AI-powered forecasting, the future of inventory intelligence is here."
