CAMPBELL, Calif., Jan. 21, 2025 /PRNewswire-PRWeb/ -- Centric Software® is thrilled to unveil new innovations to Centric Pricing & Inventory™ that deliver increased value-add including faster performance, greater forecasting accuracy and an elevated user experience. Centric Software provides the most innovative enterprise solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products such as fashion, luxury, footwear, outdoor, home and related goods like cosmetics & personal care as well as multi-category retail to achieve strategic and operational digital transformation goals.
Centric Software is regularly featured by leading industry analysts, including Gartner Forrester and IDC. Centric Pricing & Inventory addresses the unique challenges faced by the retail sector focusing on margin maximization through optimal pricing and inventory optimization. The AI-powered solution integrates with Centric PLM™, Centric Planning™ and Centric Market Intelligence™. Centric Pricing & Inventory is an AI-powered solution that manages pricing, inventory allocation, replenishment and stock rebalancing, while providing advanced analytics and market insights for optimal markdown management. By leveraging AI-powered demand forecasting to balance markdowns and stock movements, retailers can make accurate data-driven decisions that optimize assortments, reduce discounting and align customer demand with supply, ultimately boosting profitability and minimizing excess inventory.
Centric Software's AI-powered Pricing & Inventory optimization platform has revamped the user interface, designed specifically for superior data collection. In addition, improved business rules streamline operations further, achieving performance enhancements of up to 25% for users.
The pre-season capabilities of Centric Pricing & Inventory have been expanded with a new stand-alone demand forecasting service that effortlessly integrates with other Centric products and services like Centric Market IntelligenceTM and Centric Planning™. This means sharper demand forecast accuracy, meticulous SKU-level inventory optimization and an improved initial allocation strategy that leads to unmatched overall forecast performance.
Another exciting and innovation is the "what-if" analysis, where simulations to test different pricing and inventory optimization strategies—such as maximizing profit or reducing end-of-season inventory—result in better, more impactful decisions.
With deeper integration into Centric Market Intelligence, Centric Pricing & Inventory combines external (competitor) assortment, pricing and promotion specifics with internal information to ground strategy. The common, underlying taxonomy means users can compare 'apples to apples', making data organization seamless and intuitive.
Centric Pricing & Inventory's stock rebalancing module boosts stock management for better profitability and delivers an enhanced shopping experience for consumers by ensuring the right products in the right place at the right time.
Centric Pricing & Inventory integrates with Centric Software's wider end-to-end product management platform, servicing the pre- to in- to end-season product lifecycle.
"We know that these market-driven innovations to Centric Pricing & Inventory will improve the user experience, deliver greater accuracy in demand forecasting and price-setting, which ultimately results in margin gains," says Chris Groves, CEO of Centric Software. "We are on top of consumer shifts and provide our retail and brand customers the tools to tackle the market head on."
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Aurore Evee, Centric Software, +16479155377, [email protected], www.centricsoftware.com
SOURCE Centric Software
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