24 October, 2024

Centric Pricing & Inventory Named in Gartner Market Guides for Retail Unified Price, Promotion and Markdown Optimization Applications—Long and Short Life Cycle

With Centric Pricing & Inventory, retailers gain the information they need to make faster, data-based decisions to optimize assortments and reduce discounting

CAMPBELL, Calif., October 25, 2024 – Centric Software® is pleased to announce that Centric Pricing & Inventory™ 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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