Here are 4 different ways Centric Retail PLM drives new and agile business strategies for the fast-paced retail industry to speed time to market, increase the volume of new products, leverage the supply chain and keep pace with trends.
With profitability pressure on every SKU, fashion retailers operate with a very low margin of error, and success in a single season dictates around 90% of revenue attainment. However, poor visibility throughout product development makes quick, accurate, strategic decisions difficult.
Centric Retail PLM gives fashion retailers full visibility to optimize collection planning, accurately calculate costs, margins and prices easily and quickly, track progress against targets and easily identify and update bestselling products to boost the likelihood of product success.
More seasons per year and shrinking time to market driven by fast fashion increases the need to be on-trend and on-time, every time. Product development using outdated and disparate information in spreadsheets, emails and paper notes slows down teams, causes errors and extends time to market.
Centric Retail PLM speeds decision-making with centralized, real-time product information and new technologies such as 3D integration for rapid product visualization and prototyping, AI Image Search to visually search style libraries and PLM mobile apps for working on the move.
It’s crucial for fashion retailers to balance speeding time to market with maintaining quality, often with the added challenge of managing multiple suppliers at once in different time zones, different languages and different currencies.
Protect your brand’s value and reputation by ensuring product quality doesn’t slip with the accelerating pace and volume of new product introductions by using Centric’s Final Inspection module and mobile apps.
Expansion into more regions and sales channels while competing with online retailers, digital disruptors and direct to consumer subscription models offering fast delivery and easy returns makes consistency in customer experience more important than ever. Consumer buying behavior is changing, with more online shopping meaning lower foot traffic in store.
Centric’s Retail Review mobile app optimizes the in-store experience to entice shoppers, aligning brand values and product presentation guidelines.
There are so many ways fashion retailers use Centric Retail PLM to dramatically transform the way their teams work every day! Here are just some of the amazing results our fashion retail customers achieve. #IncreaseEfficiency #SaveTime #ReduceCosts
Simultaneously develop hundreds of styles and multiple seasons.
Streamline the development of goods for multiple markets.
Speed decision-making in design and development with AI Search.
Use 3D technology from any CAD vendor for rapid product visualization and prototyping.
Easily vary a core design in many different materials, colors, sizes, trims or other styling details.
Speed product iterations while also reducing time to market and prototyping costs.
Quickly issue design briefs to many suppliers and agents simultaneously.
Minimize risk and keep consumers happy by offering variations of bestselling, core designs.
The market speaks! Here are just some of the fashion retailers that trust us to create a digital foundation for strategic business growth:
Global leader in online luxury fashion retail enjoys faster and more efficient product development process with Centric Retail PLM, enabling YNAP to track costs, samples and production in a way that is traceable and easy to understand on a single platform.
Top Norwegian fashion retailer implements Centric Retail PLM to drive global business strategy, uses solution across 10 of their concepts to streamline product development and adapt to faster retailing trends.