Shin 7a well-known inventory and order management software provider, announced the acquisition of . inventoryis a prominent provider of AI-powered sales forecasting and replenishment optimization solutions. This strategic move aims to power Cin7's platform with advanced AI technology, enabling customers to optimize their inventory and order management processes with intelligent prediction and optimization capabilities.
With global product distributors facing staggering losses estimated at $163 billion annually due to overstocking and similar inefficiencies, demand for AI-powered predictive solutions is surging. Her Inventoro expertise in this area aligns seamlessly with her Cin7 commitment to providing cutting-edge solutions. By integrating Inventoro's capabilities, Cin7 provides customers with actionable insights and enhanced visibility, allowing them to optimize performance across channels and alleviate issues related to overstock and stockouts. .
Cin7 CEO Ajoy Krishnamoorthy expressed enthusiasm about the synergy between Cin7's inventory management solution and Inventoro's AI prediction and optimization capabilities. He highlighted the value proposition to customers and the potential to maximize sales, minimize overstock and drive informed decision-making across operations.
Tomas Formanek, Founder and CEO of Inventoro, echoed Krishnamoorthy's sentiments, emphasizing the natural alignment of the two companies' visions. He emphasized the shared goal of supporting small and medium-sized business product sellers and manufacturers by streamlining operations, reducing waste, and increasing efficiency across the supply network.
Inventoro's AI-powered predictive technology accurately predicts future product demand and provides daily updates on optimized performance and profitable product insights. When combined with Cin7's end-to-end inventory management software, customers gain valuable visibility into product availability and inventory capital, enabling faster decision-making and gaining a competitive edge.
The acquisition announcement coincides with a period of transformation for Cin7, highlighted by recent management appointments, including Ajoy Krishnamoorthy as Chief Executive Officer and Nolan Smith as President and Chief Operating Officer. I am. The future of inventory intelligence looks promising as Cin7 embarks on a new phase of growth, fueled by cutting-edge technology and strategic partnerships.