Wöhrl Drives Higher Margins with AI-Powered Centric Pricing & Inventory
German retail clothing company enlists AI-powered Centric Pricing & Inventory to improve margins and productivity
Centric Software® is delighted to announce the release of a success story about its customer, Rudolf Wöhrl SE.
Founded in 1933 and based in Nuremburg, Germany first as a fashion house and now a national German retailer, Wöhrl sells men’s, women’s and children’s clothing and accessories. The company evolved through the years and underwent restructuring in 2017, boasting 29 retail stores and online sales via their website.
Having survived several market events over the past 90 years, Wöhrl was looking to optimize their resources with respect to cost of goods (COGS) and to better control their inventory to fight any future disruptions. This includes the way that markdowns are handled. The company says, “We used a fixed markdown ladder and it did happen that we marked down items that should not have been marked down in the first place.”
To mitigate that, the company wants to manage productivity along the entire lifecycle to reduce the ending-stock. Wöhrl selected Centric Pricing & Inventory™ for the AI power it brings to achieve their goals of increasing margins and reducing markdowns without increasing inventory.
Read the full story to find out: by what percentage they were able to increase gross profit margins, how the integration into Wöhrl’s tech stack went and the interesting results of the test they ran on the concept of dynamic pricing!