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Author: P. Blumenthal
Publisher: GRIN Verlag
ISBN: 3640321294
Category : Business & Economics
Languages : en
Pages : 65
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Book Description
Seminar paper from the year 2008 in the subject Business economics - Supply, Production, Logistics, grade: 1,0, Technical University of Braunschweig (Institut für Produktion und Logistik), language: English, abstract: Revenue management (RM) is the umbrella term for a set of strategies, tactics and instruments aiming at the maximization of yield by allocating a company's capacity to different customers at different prices. Due to its great success, the application of revenue management is widespread nowadays. But as the origin of RM lies in the airline industry, this is still the sector of its main application. Service industries such as hotels, car-rentals or internet service providers which share the same characteristics as the airline industry (e.g. fixed capacity and a highly uncertain demand) discovered quite early the potential of RM. Consequently, they were the first to adopt RM strategies.1 Retailers, broadcasting industries and companies of the energy sector have followed lately. The core concept of RM becomes clear, considering the economics of RM (Cross 1997, p.73ff): The downward-sloping demand curve (figure 1) shows the number of units of a certain product which are sold at a certain price. [...]
Author: P. Blumenthal
Publisher: GRIN Verlag
ISBN: 3640321294
Category : Business & Economics
Languages : en
Pages : 65
Get Book Here
Book Description
Seminar paper from the year 2008 in the subject Business economics - Supply, Production, Logistics, grade: 1,0, Technical University of Braunschweig (Institut für Produktion und Logistik), language: English, abstract: Revenue management (RM) is the umbrella term for a set of strategies, tactics and instruments aiming at the maximization of yield by allocating a company's capacity to different customers at different prices. Due to its great success, the application of revenue management is widespread nowadays. But as the origin of RM lies in the airline industry, this is still the sector of its main application. Service industries such as hotels, car-rentals or internet service providers which share the same characteristics as the airline industry (e.g. fixed capacity and a highly uncertain demand) discovered quite early the potential of RM. Consequently, they were the first to adopt RM strategies.1 Retailers, broadcasting industries and companies of the energy sector have followed lately. The core concept of RM becomes clear, considering the economics of RM (Cross 1997, p.73ff): The downward-sloping demand curve (figure 1) shows the number of units of a certain product which are sold at a certain price. [...]
Author: Danilo Zatta
Publisher: Springer
ISBN: 331930240X
Category : Business & Economics
Languages : en
Pages : 143
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Book Description
This book focuses on the application of revenue management in the manufacturing industry. Though previous books have extensively studied the application of revenue management in the service industry, little attention has been paid to its application in manufacturing, despite the fact that applying it in this context can be highly profitable and instrumental to corporate success. With this work, the author demonstrates that the manufacturing industry also fulfills the prerequisites for the application of revenue management. The book includes a summary of empirical studies that effectively illustrate how revenue management is currently being applied across Europe and North America, and what the profit potential is.
Author: Florian Defregger
Publisher: Springer
ISBN: 3658240377
Category : Business & Economics
Languages : en
Pages : 155
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Book Description
Revenue Management has proven successful in a number of service industries. Starting out in the airlines industry in the 1970s, Revenue Management spread to tourism sectors such as hotels and cruise ships, but also to TV advertising and other industries. Revenue Management for the manufacturing sector is a relatively new concept which is explored in this book. In order to test if there is a potential for Revenue Management in the manufacturing sector, a survey was conducted and sent to a large number of manufacturing companies in the paper, steel and aluminium industries. The results show that Revenue Management is already partly implemented in these industries, but has further greater potential for bottom line improvement in these industries. The book continues with a number of mathematical decision models and heuristics for several application scenarios. The numerical results of the models indicate that manufacturing companies should seriously consider thinking about implementing a Revenue Management system in order to enhance profits significantly.
Author: Ian Yeoman
Publisher: Cengage Learning
ISBN: 9781844800629
Category : Business enterprises
Languages : en
Pages : 0
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Book Description
Revenue management is the process of allocating the right inventory to the right kind of customer at the right price to maximise revenue. It applies particularly to the service sector. Covering numerous industries, these case studies demonstrate a variety of scenarios, problems and solutions.
Author: Robert G. Cross
Publisher: Crown Currency
ISBN: 0307788989
Category : Business & Economics
Languages : en
Pages : 289
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Book Description
From the man the Wall Street Journal hailed as "the guru of Revenue Management" comes revolutionary ways to recover from the after effects of downsizing and refocus your business on growth. Whatever happened to growth? In Revenue Management, Robert G. Cross answers this question with his ground-breaking approach to revitalizing businesses: focusing on the revenue side of the ledger instead of the cost side. The antithesis of slash-and-burn methods that left companies with empty profits and dissatisfied stockholders, Revenue Management overturns conventional thinking on marketing strategies and offers the key to initiating and sustaining growth. Using case studies from a variety of industries, small businesses, and nonprofit organizations, Cross describes no-tech, low-tech, and high-tech methods that managers can use to increase revenue without increasing products or promotions; predict consumer behavior; tap into new markets; and deliver products and services to customers effectively and efficiently. His proven tactics will help any business dramatically improve its bottom line by meeting the challenge of matching supply with demand.
Author: Guillermo Gallego
Publisher: Springer
ISBN: 1493996061
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Author: I. Yeoman
Publisher: Springer
ISBN: 0230294774
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Pricing is about deciding your market position whereas revenue management is the strategic and tactical decisions firms take in order to optimize revenues and profits. This book offers insights into research, theories, applications and innovations and how to makes these work in different industries.
Author: Hans-Otto Günther
Publisher: Springer Science & Business Media
ISBN: 3540937757
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
In recent years, supply chain planning has emerged as one of the most challenging problems in the industry. As a consequence, the planning focus is shifting from the management of plant-speci?c operations to a holistic view of the various logistics and productionstages, that is an approach in which suppliers, productionplants and customers are considered as constituents of an integrated network. A major dr- ing force behind this development lies in the globalization of the world economy, which has facilitated the co-operation between different partners working together in world-wide logistics networks. Hence, considerable cost savings can be gained from optimizing the structure and the operations of complex supply networks li- ing plants, suppliers, distribution centres and customers. Consequently, to improve the performance of the entire logistic chain, more sophisticated planning systems and more effective decision support are needed. Clearly, successful applications of supply chain management have driven the development of advanced planning systems (APS), which are concerned with s- porting decision-making activities at the strategic, tactical and operational decision level. These software packages basically rely on the application of quantitative methods, which are used to model the underlying complex decision problems c- sidering the limited availability of resources and the need to react on time to customer orders. The core module at the mid-term level of APS comprises op- ational supply chain planning. In many industries, productionstages are assigned to differentplantsand distribution centreshave been established at geographicallyd- persed locations.
Author: Tieming Liu (Ph. D.)
Publisher:
ISBN:
Category :
Languages : en
Pages : 110
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Book Description
(Cont.) For this problem we analyze the structure of the optimal policy and show that it is characterized by three state-independent control parameters: the produce-up-to level (S), the reserve-up-to level (R), and the backlog-up-to level (B). At the beginning of each period, the manufacturer will produce to bring the inventory level up to S or to the maximum capacity; during the period, s/he will set aside R units of inventory for the next period, and satisfy some customers with the remaining inventory, if expected future profit is higher; otherwise, s/he will satisfy customers with the inventory and backlog up to B units of demands. Then, we analyze a single-product, two-class-customer model in which demanding (high priority) customers would like to receive products immediately, while other customers are willing to wait in order to pay lower prices. For this model, we provide a heuristic policy characterized by three threshold levels: S, R, B.
Author: Ronald Huefner
Publisher: Business Expert Press
ISBN: 1631570943
Category : Business & Economics
Languages : en
Pages : 237
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Book Description
This book describes the emerging field of revenue management and its applications across a broad spectrum of business activity. It recounts the history and development of revenue management and addresses the analytical tools needed to integrate revenue management into management generally and financial and accounting practice in particular. Revenue Management discusses and assesses various pricing practices and other revenue management techniques. It gives particular attention to the role of capacity analysis and the connection of revenue management to the theory of constraints. While revenue management originated in the service industries, it is now practiced across a broad spectrum of business and not-for-profit organizations. This book will be a useful guide to managers at all levels who wish to give greater consideration to the importance of revenue management in their organizations. The second edition reorganizes the presentation of the subject, adds many new examples, and concludes with a chapter on emerging issues.
