Application of Revenue Management 👨‍💼 to the Manufacturing Industry 👨‍🏭️

Application of Revenue Management 👨‍💼 to the Manufacturing Industry 👨‍🏭️

👓 I. Petersen,P. Blumenthal,T. Schubert
Application of Revenue Management 👨‍💼 to the Manufacturing Industry 👨‍🏭️

Application of Revenue Management 👨‍💼 to the Manufacturing Industry 👨‍🏭️

✅ Seminar paper 📜 from the year 2️⃣0️⃣0️⃣8️⃣ in the subject Business 👨‍💼 economics - Supply, Production, Logistics, grade: 1️⃣,0️⃣, 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 companys 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.1️⃣ 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 🤞 1️⃣9️⃣9️⃣7️⃣, p.7️⃣3️⃣ff): The downward 🔽-sloping demand curve (figure 1️⃣) shows the number of units of a certain product which are sold at a certain price. [...]



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