New innovations include highly visual analytics and integrated
market insights to plan on-target assortments and boost
sell-through
CAMPBELL, Calif., Oct. 7, 2024
/PRNewswire-PRWeb/ -- Centric Software® is pleased to announce
updates to Centric PlanningTM that deliver enhanced analytics and
demand forecasting integration to plan and execute more on-target
assortments. Centric Software provides the most innovative
enterprise best-of-breed solutions to plan, design, develop,
source, buy, make, price, allocate, sell and replenish products
such as fashion, outdoor, luxury, multi-category retail, grocery,
food & beverage, cosmetics & personal care and consumer
electronics to achieve strategic and operational digital
transformation goals.
Regularly featured by leading industry analysts, including
Gartner, Forrester and IDC, Centric Planning targets the unique
challenges faced by the retail sector by providing a holistic
end-to-end retail planning solution that integrates seamlessly with
Centric Software's wider end-to-end product lifecycle (PLM)
platform, servicing the pre- to in- to end-season product
lifecycle, from initial concept to product replenishment and
clearance pricing.
Centric Planning's industry-first integration with Centric
Marketing Intelligence and Centric PLM™ combines advanced analytics
and real-time market insights to enhance retail forecasting,
consumer-centric decision-making and replenishment capabilities,
all in one platform. Connection with Centric Pricing and
InventoryTM provides AI-powered inventory optimization and markdown
management. And the seamless link to Centric Visual BoardsTM
enables robust assortment development, product portfolio
optimization and faster decision making.
The latest version of Centric Planning includes significant
updates to its user interface and AI/ML capabilities, which enable
brands and retailers to visualize analytics and data more
effectively, better and more accurately forecast demand throughout
the product sales cycle, easily embed retail industry best
practices and improve decision-making.
Centric Planning leverages AI-driven forecasting, utilizing
advanced algorithms that continuously learn and adapt to provide
highly accurate demand predictions. This helps retailers and brands
make smarter decisions on assortments, stock levels and product
performance across different channels and locations. Additional
Machine Learning methods have been integrated to support products
with strong seasonal variations, even during the early stages of
the season. AI-based forecasting also enhances the replenishment
process. New AI basket analysis enables customers to understand
sales correlations between products and adjust their assortment to
better fulfil consumer needs.
These latest updates have expanded AI-driven use cases, explains
Riccardo Proni, VP, Planning
Research and Design at Centric Software.
"Our commitment to innovation is evident in our ongoing and
dedicated exploration of how AI-driven forecasting can be used to
quantify inventory needs for new products and pre-season planning,
leveraging the limited amount of data available during this phase
of the process. We are actively developing and refining advanced AI
algorithms to analyze available data, such as similar product
categories and market trends, to generate accurate demand
forecasts. This evolving approach aims to provide retailers with
better tools to make informed decisions before the season begins,"
explains Proni.
Integration with Centric Market Intelligence enhances
decision-making using Centric Planning, continues Proni, "We have
reached a significant milestone by seamlessly integrating Centric
Marketing Intelligence with our assortment planning capabilities.
This enables us to incorporate crucial market trends and
competitive data, such as pricing and discount information, into
assortment planning. Our ultimate aim is to refine forecasting
models even further by incorporating a broader range of competitive
and market data, thereby empowering retailers to make more informed
decisions on inventory management and marketing strategies based on
evolving market conditions and competitor actions."
"We are delighted to announce several important updates to
Centric Planning that will deliver increased efficiency, better
decision-making abilities and improved system performance for our
customers," says Chris Groves, CEO
of Centric Software. "Our team is constantly innovating together
with our customers to ensure that our solutions address the retail
challenges of today and tomorrow."
Learn more about Centric Software
See Centric AI-Powered Solutions in action at
NRF 2025, Booth #6257
Request a demo
Media Contact
Aurore Evee, Centric Software,
+16479155377, Aurore.evee@centricsoftware.com,
www.centricsoftware.com
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SOURCE Centric Software