Information Technology
Centric Pricing & Inventory Named in Gartner Market Guides for Retail Unified Price, Promotion and Markdown Optimization Applications—Long and Short Life Cycle
Centric Software® is pleased to announce that Centric Pricing & InventoryTM has been named a Recognized Vendor in Gartner’s 2024 Market Guides for Retail Unified Price, Promotion and Markdown Optimization Applications – both Long and Short Life Cycle products. 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.
Founded 40+ years ago, Gartner is a technological research and consulting firm offering ‘actionable, objective insight to executives and their teams. The expert guidance and tools enable faster, smarter decisions and stronger performance on an organization's mission-critical priorities.’ Gartner has 20,000 employees and about 15,000 client enterprises in 90+ countries and territories.
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.
With an emphasis on ease of use and user adoption, the platform enhances transparency and supports informed decision-making. As part of Centric's integrated end-to-end solution, it caters to retailers' comprehensive digital transformation needs. The system enables real-time pricing adjustments in response to competitor actions and consumer trends, while also optimizing inventory control to reduce carryover and stockouts, aligning with emerging sustainability regulations.
With Centric Pricing & Inventory, brands and retailers can:
- Increase profitability and increase revenues by up to 18%
- Maximize margins by up to 15% through optimizing pricing to influence demand
- Accelerate growth by aligning customer demand with accurate supply improving productivity by up to 50%
- Sell more with up to 30% less inventory and reduce discounting
“We are excited to be included in Gartner’s Market Guides for Retail Unified Price, Promotion and Markdown Optimization Applications,” says Chris Groves, CEO of Centric Software. “We are dedicated to delivering solutions to retailers that encompass a holistic concept-to-replenishment digital, AI-powered workflow. With Centric Pricing & Inventory our retail customers gain insight into consumer behavior leading to faster and more accurate decision-making.”
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Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Centric Software® (www.centricsoftware.com)
From its headquarters in Silicon Valley, Centric Software provides an innovative and AI-enabled product concept-to-replenishment platform for retailers, brands and manufacturers of all sizes. As experts in fast-moving consumer goods like fashion, outdoor, luxury, home, multi-category retail, grocery, food & beverage, cosmetics & personal care and consumer electronics, Centric Software delivers best-of-breed solutions to plan, design, develop, source, buy, make, price, allocate, sell and replenish products.
- Centric PLMTM, the leading PLM solution for consumer goods, optimizes product execution from ideation to development, sourcing and manufacture, realizing up to 50% improvement in productivity and a 60% decrease in time to market.
- Centric PlanningTMis an innovative, cloud-native, AI solution delivering end-to-end planning capabilities to maximize retail and wholesale business performance resulting in an up to 110% increase in margins.
- Centric Pricing & InventoryTMleverages AI to drive margins and boost revenues by up to 18% via price and inventory optimization from pre-season to in-season to season completion.
- Centric Market IntelligenceTMis an AI-driven platform giving insights into consumer trends, competitor offers and pricing to boost competitivity and get closer to the consumer, with an up to 12% increase in average initial price point.
- Centric Visual BoardsTMpivot actionable data in a visual-first orientation to ensure robust, consumer-right assortments and product offers, dramatically decreasing assortment development cycle time.
Centric Software’s market-driven solutions have the highest user adoption rate, customer satisfaction rate and fastest time to value in the industry. Centric Software has received multiple industry awards and recognition, appearing regularly in world-leading analyst reports and research.
Centric Software is a subsidiary of Dassault Systèmes (Euronext Paris: #13065, DSY.PA), the world leader in 3D design software, 3D digital mock-up and PLM solutions.
Centric Software is a registered trademark of Centric Software, Inc. in the US and other countries. Centric PLM, Centric Planning, Centric Pricing & Inventory, Centric Market Intelligence and Centric Visual Boards are Trademarks of Centric Software, Inc. All third-party trademarks are trademarks of their respective owners. Excel and Power BI are trademarks of the Microsoft group of companies.
Media Contacts:
Centric Software
Americas: Jennifer Forsythe, jforsythe@centricsoftware.com
EMEA: Kristen Salaun-Batby, ksalaun-batby@centricsoftware.com
APAC: Lily Dong, lily.dong@centricsoftware.com