Centric Software Introduces Product Profitability Planning Module for Centric 8 Suite
Addition delivers detailed cost, margin info before product launch to achieve product and channel profitability goals
Campbell, Calif. (PRWEB) May 12, 2009 -- Consumer goods and fashion companies seeking detailed product cost and gross margin information early in the product development process - before products launch - will gain this added visibility for the first time with the introduction of the Centric Product Profitability Planning module from Centric Software, Inc.
The new module, part of the Centric 8, Release 3* product lifecycle management (PLM) and sourcing suite, calculates complete product cost and gross margin information - including operating expenses, channel costs, royalties, shipping costs and GMROI - early in the product development process.
"The Product Profitability Planning module provides unprecedented insight into the potential financial success of new products," says Chris Groves, CEO of Centric. "Companies can save up to millions of dollars by eliminating products with poor margins early in the development cycle, and concentrate their time and resources on those products most likely to provide the highest margins."
The Centric Product Profitability Planning module also provides financial information down to any level of the bill of materials (BOM) as well as across all SKUs, channels and regions of business. Users across multiple departments can provide input and gain instant visibility to any changes in financial metrics.
Calculating and managing the fully loaded cost of a new product is difficult, explains Groves, since costs like royalties, cost of goods sold, marketing costs, freight costs and channel costs usually are captured by different departments in different systems and spreadsheets. As each new product potentially has multiple SKU variants and channels, the challenge becomes complex. Consequently, companies often fail to determine the true ROI before launching new products - and end up with unanticipated lower margins and product failures.
"With this level of information available during early-stage development, marketing, sales and finance executives responsible for new-product profit-and-loss can cut losses, invest in winning products and channels, and focus on improving profitability," concludes Groves.
About Centric Software, Inc.:
Centric Software is a leading provider of product lifecycle management (PLM) and sourcing solutions for companies in the fast-moving consumer goods industries, including those that globally source private-label products. Centric 8 enables companies to speed new products to market, drive margin improvement, and improve global collaboration and compliance.
Centric's proven Web-based product intelligence technology enables team members and partners to securely access the information they need to improve global collaboration, execution and business performance. Global enterprises including Artsana, Best Buy, Bristol-Myers Squibb, Coleman, Kiewit, Le Coq Sportif, Moen, Timex and United Stationers Inc. use Centric's solutions to achieve top-line revenue growth and cost reductions.
Centric is a registered trademark of Centric. All other brands and product names may be trademarks of their respective owners.
*See related Centric 8 Version 3 announcement dated May 12, 2009.
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