Singapore – Epicor, a software development firm, has recently announced its strategic acquisition of Smart Software, a cloud-based, AI-driven inventory planning and optimisation applications firm. This initiative builds on the company’s commitment to provide ERP solutions that utilise the practical application of artificial intelligence across various industries, which include make, move, and sell.
Through the acquisition, additional benefits for the company include AI-driven operational efficiency, enabling Epicor’s customers to strengthen and streamline inventory management processes while also ensuring optimal stock levels.
With this, businesses can optimise cost savings, improve resource utilisation, and run smoother operations by automating demand forecasting, which eliminates manual data entry and preparation. This automation also considers trends, seasonality, and intermittency.
Furthermore, it also brings improved customer satisfaction and lifetime value. Epicor’s solutions can also reduce stockouts, ensuring that products are available when customers require them, through the use of Smart Software and AI technology.
Another key benefit of the acquisition is best-in-class inventory optimisation and cash flow management, allowing Epicor customers to enhance their ability to balance inventory levels and optimise working capital.
This is achieved by preventing excess stock and minimising obsolete or slow-moving inventory, freeing up funds that would otherwise be tied up.
As an established Epicor ISV partner, Smart Software solutions are already integrated with numerous Epicor ERP platforms. The integration extends functionality to assist users in making informed, strategic inventory decisions that align with their business objectives.
Steve Murphy, chief executive officer at Epicor, expressed his enthusiasm for the initiative, stating, “In today’s fast-paced and constantly evolving supply chain landscape, effective inventory management is critical for success.”
“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,” explained Steve.
Greg Hartunian, president at Smart Software, also said, “As a long-time Epicor ISV partner, we’re closely aligned in delivering customers the AI-powered technologies they need to improve forecast accuracy and optimise inventory levels. We’re excited to join Epicor and continue our journey in driving innovation across the supply chain industries.”
