WO2005050410A3 - Revenue management of flexible products - Google Patents

Revenue management of flexible products Download PDF

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Publication number
WO2005050410A3
WO2005050410A3 PCT/US2004/038997 US2004038997W WO2005050410A3 WO 2005050410 A3 WO2005050410 A3 WO 2005050410A3 US 2004038997 W US2004038997 W US 2004038997W WO 2005050410 A3 WO2005050410 A3 WO 2005050410A3
Authority
WO
WIPO (PCT)
Prior art keywords
products
revenue
flexible products
relation
inventory
Prior art date
Application number
PCT/US2004/038997
Other languages
French (fr)
Other versions
WO2005050410A2 (en
Inventor
Guillermo Gallego
Robert Phillips
Original Assignee
Univ Columbia
Guillermo Gallego
Robert Phillips
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Univ Columbia, Guillermo Gallego, Robert Phillips filed Critical Univ Columbia
Publication of WO2005050410A2 publication Critical patent/WO2005050410A2/en
Publication of WO2005050410A3 publication Critical patent/WO2005050410A3/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q30/00—Commerce
    • G06Q30/02—Marketing; Price estimation or determination; Fundraising

Landscapes

  • Business, Economics & Management (AREA)
  • Engineering & Computer Science (AREA)
  • Accounting & Taxation (AREA)
  • Development Economics (AREA)
  • Strategic Management (AREA)
  • Finance (AREA)
  • Game Theory and Decision Science (AREA)
  • Entrepreneurship & Innovation (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Management, Administration, Business Operations System, And Electronic Commerce (AREA)

Abstract

Methods and systems are provided that use flexible products to enhance the profitability of perishable/constrained capacity and/or inventory providers such as airlines and hotels. Algorithms or formulae are also provided with which the conditions of maximizing revenue of flexible products can be determined in relation to specific products, and in relation to situations involving repeated transactions where demand varies. The revenue management methods provide lower priced flexible products that attract additional customers who would otherwise not choose to make a purchase, and enable companies to wait for uncertainty on specific product demand to be at least somewhat resolved before assigning alternative products (thereby enabling maximized use of capacity/inventory and generation of revenue).
PCT/US2004/038997 2003-11-18 2004-11-18 Revenue management of flexible products WO2005050410A2 (en)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
US52097403P 2003-11-18 2003-11-18
US60/520,974 2003-11-18

Publications (2)

Publication Number Publication Date
WO2005050410A2 WO2005050410A2 (en) 2005-06-02
WO2005050410A3 true WO2005050410A3 (en) 2005-08-25

Family

ID=34619548

Family Applications (1)

Application Number Title Priority Date Filing Date
PCT/US2004/038997 WO2005050410A2 (en) 2003-11-18 2004-11-18 Revenue management of flexible products

Country Status (1)

Country Link
WO (1) WO2005050410A2 (en)

Families Citing this family (8)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US7487103B2 (en) * 2005-11-29 2009-02-03 Versonix Corporation System and method for accepting a reservation based on statistical profitability
US20130132128A1 (en) * 2011-11-17 2013-05-23 Us Airways, Inc. Overbooking, forecasting and optimization methods and systems
US11321721B2 (en) 2013-03-08 2022-05-03 American Airlines, Inc. Demand forecasting systems and methods utilizing prime class remapping
US9727940B2 (en) 2013-03-08 2017-08-08 American Airlines, Inc. Demand forecasting systems and methods utilizing unobscuring and unconstraining
US20140278615A1 (en) 2013-03-15 2014-09-18 Us Airways, Inc. Misconnect management systems and methods
US10748087B2 (en) 2014-01-17 2020-08-18 American Airlines, Inc. Determining even-spaced quantiles for network optimization
US10755207B1 (en) 2014-01-17 2020-08-25 American Airlines, Inc. Demand class remapping for airline seat bookings
US20160140484A1 (en) * 2014-11-17 2016-05-19 Unisys Corporation Method of assessing a penalty fee for amending or cancelling booking using a logistics management system (lms)

Non-Patent Citations (4)

* Cited by examiner, † Cited by third party
Title
GENNINGS K. ET AL, August 2003 (2003-08-01), Retrieved from the Internet <URL:http://www.caribbeantrip.com/nhotels/ReefClubCosumel/reviews.shtml> *
Retrieved from the Internet <URL:http://bb.affordabletours.com/Message01329.php> *
Retrieved from the Internet <URL:http://cancun-hotels-tripadvisor.com/ShowUserReviews-g150807-d154868-r1877803-Le_Blanc_Spa_Resort_Cancun-Cancun_Yucatan_Peninsula.html> *
RHENDA BRADSHAW DYE AND CRAIG DYE ET AL, Retrieved from the Internet <URL:http://www.jmtravel.com/apple_vacation.htm> *

Also Published As

Publication number Publication date
WO2005050410A2 (en) 2005-06-02

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