Product Overview: Centric Software
Introduction
Centric Software offers a comprehensive suite of solutions designed to support the product lifecycle management (PLM), pricing, and inventory management needs of retailers, brands, and manufacturers in the consumer goods industry. Here’s an overview of their key product, focusing on Centric PLM and the integrated Centric Pricing & Inventory solution.
Centric PLM
What it Does
Centric PLM is a robust platform that connects every phase of the product lifecycle, from design and development to sourcing, manufacturing, and retail. It serves as a single source of truth, ensuring all stakeholders have access to the most up-to-date and accurate information. This platform is trusted by over 12,500 consumer goods brands, retailers, and manufacturers, including notable names like Under Armour, Louis Vuitton, and Sephora.
Key Features and Functionality
- Line Planning and Calendar Management: Centric PLM allows businesses to efficiently plan and manage product lines and development calendars, ensuring all tasks and deadlines are met.
- Materials Management: The platform includes tools for managing materials and suppliers, tracking sourcing and procurement, and ensuring access to the latest information on materials availability and pricing.
- Product Specifications: Detailed product specifications, including design sketches, measurements, and technical details, are created and managed to ensure accuracy throughout the development process.
- Collaboration and Communication: Centric PLM enables real-time collaboration among teams and external stakeholders, improving internal and external communication and reducing time wasted searching for data.
- Sustainability and Compliance: The platform tracks raw materials from their source, measures key sustainability criteria, and identifies suitable alternatives, helping businesses drive sustainability and reduce waste.
- Integration: Centric PLM is an open-ended platform that integrates seamlessly with other business applications such as ERP, 3D design tools, e-commerce, PIM, and more.
Centric Pricing & Inventory
What it Does
Centric Pricing & Inventory is an AI-powered solution that manages pricing, inventory allocation, replenishment, and stock rebalancing. It is designed to address the unique challenges faced by the retail sector, focusing on margin maximization through optimal pricing and inventory optimization.
Key Features and Functionality
- AI-Powered Demand Forecasting: The solution uses AI to balance markdowns and stock movements, enabling retailers to make accurate data-driven decisions that optimize assortments, reduce discounting, and align customer demand with supply.
- Real-Time Pricing Adjustments: Centric Pricing & Inventory allows for real-time pricing adjustments in response to competitor actions and consumer trends, optimizing inventory control to reduce carryover and stockouts.
- Inventory Optimization: The platform optimizes inventory allocation, replenishment, and stock rebalancing, providing advanced analytics and market insights for optimal markdown management.
- Integration with Centric PLM: This solution integrates with Centric PLM, Centric Planning, and Centric Market Intelligence, providing a holistic concept-to-replenishment digital workflow.
- User-Friendly and Transparent: The platform is designed for ease of use and user adoption, enhancing transparency and supporting informed decision-making.
Overall Benefits
- Speed to Market: Centric Software solutions help businesses develop products rapidly and ensure accurate, on-time delivery to satisfy consumers.
- Improved Collaboration: Real-time collaboration and communication among teams and stakeholders are significantly improved.
- Efficiency and Profitability: By streamlining product development processes, reducing time-to-market, and optimizing pricing and inventory, businesses can boost efficiency, lower costs, and maximize revenues.
- Sustainability: The platform helps drive sustainability by reducing waste and optimizing resources throughout the product lifecycle.
In summary, Centric Software offers a powerful and integrated suite of solutions that cater to the comprehensive needs of consumer goods brands, retailers, and manufacturers, enabling them to achieve strategic and operational goals, increase agility, and maximize profitability.