Application of Revenue Management to the Manufacturing Industry
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Sprache:Englisch
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Erscheinungsdatum
29.04.2009
Verlag
GRINSeitenzahl
57 (Printausgabe)
Dateigröße
1018 KB
Auflage
1. Auflage
Sprache
Englisch
EAN
9783640323272
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. [...]
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. [...]
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