Centric Software Introduces New AI Pricing and Inventory Technology to Help Retailers Improve Profitability
CALIFORNIA — Centric Software has introduced new enhancements to its Centric Pricing & Inventory™ platform, incorporating artificial intelligence technology to help retailers improve pricing accuracy and inventory management.
The enhanced platform features a centralised AI-powered demand forecasting engine designed to deliver more accurate demand predictions throughout the product lifecycle.
According to the company, the technology enables businesses to develop more effective pricing and inventory strategies based on real-time market conditions.
The platform supports the full business process, including product planning, development, production, pricing and distribution.
It is used across multiple industries including fashion, luxury goods, consumer electronics, food and personal care.
By combining AI demand forecasting with pricing strategies, the platform helps align supply with market demand.
This helps reduce excess inventory and avoid unnecessary markdowns.
Centric Software said internal analysis shows customers have achieved revenue increases of up to 18 percent in certain cases.
The platform also includes AI agents that provide pricing recommendations and explanations.
This helps users understand the reasoning behind pricing decisions.
The platform also features simulation tools that allow businesses to test pricing and inventory strategies before implementation.
This helps companies make more informed decisions.
The system also provides real-time market intelligence including competitor pricing and trends.
In addition, analytics dashboards allow businesses to monitor performance.
Centric Software CEO Fabrice Canonge said the innovation was developed to help businesses improve operational efficiency.
He said the platform helps customers adapt to changing market conditions.
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