SIMULATING AN INTEGRATED REVENUE MANAGEMENT APPROACH IN A PRODUCTION SYSTEM WITH PRODUCT SUBSTITUTION

Author(s):  
Maha Ben Ali ◽  
Sophie D'Amours ◽  
Jonathan Gaudreault ◽  
Marc-Andre Carle
OR Spectrum ◽  
2015 ◽  
Vol 37 (4) ◽  
pp. 951-982 ◽  
Author(s):  
Hendrik Guhlich ◽  
Moritz Fleischmann ◽  
Raik Stolletz

2015 ◽  
Author(s):  
Hendrik Guhlich ◽  
Moritz Fleischmann ◽  
L. MMnch ◽  
Raik Stolletz

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ben Vinod

PurposeThe static world of flight scheduling where schedules rarely change once published is becoming more responsive with schedule change updates leading up to the departure date due to demand volatility and unpredictable demand patterns. Innovation in cash flow generation will take center stage to operate the business in these uncertain times. Forecasting demand for future flights is a challenge since historical demand patterns are not meaningful which requires a new adaptive robust revenue management approach that monitors key metrics, detects anomalies and quickly takes corrective action when performance targets cannot be achieved.Design/methodology/approachThe novel COVID-19 pandemic decimated the travel industry in 2020 and continues to plague us with no end in sight. With the steep drop in revenues, airlines need to adapt to a new marketing planning process of scheduling, pricing and revenue management that is more nimble to adapt quickly to changing market conditions. This new approach will continue to be relevant in a post-COVID-19 world during and after economic recovery.FindingsA methodology for airline revenue planning: scheduling, airline pricing and revenue management, has been proposed that will also work in a post-COVID-19 era.Research limitations/implicationsThe limitation of the proposed model is that it needs to be applied in practice to determine the true benefits of this novel approach to airline revenue planning.Practical implicationsFlight scheduling will rely more on clean sheet scheduling, schedule revisions and close in refleeting to better match demand to supply. The office of the chief financial officer will have a permanent task force to monitor cash flow and come up with innovative solutions to generate cash flow for liquidity. Adaptive robust revenue management workflows will be integrated into traditional revenue management workflows in the future for competitive advantage.Social implicationsIn a post-COVID-19 world it is anticipated that airline business processes will transform to be nimbler and more proactive in making timely decisions at a greater velocity.Originality/valueThe approach to airline revenue planning for scheduling, pricing and revenue management is a new business process that does not exist today at scale in the airline industry.


2021 ◽  
Vol 58 (Special) ◽  
pp. 143-167
Author(s):  
Mohammad Shahid ◽  
Sushmita Munda ◽  
Rubina Khanam ◽  
Dibyendu Chatterjee ◽  
Upendra Kumar ◽  
...  

Climate change is widely recognized as one of the most pressing issues confronting humanity today. It is considered to be a direct threat to our food production system including rice. Climate change affects rice production in various ways. The variability in temperature and precipitation increases, predictability of seasonal weather patterns reduces and the frequency and intensity of extreme weather events such as droughts, floods and cyclones increases. In India, the effect of natural disasters on agriculture, including disasters caused by climate change has been gradually growing. It is believed that during the mid and end century India's future rice production is projected to reduced by 2.5 to 5% from the current level. As there is less scope for rice area to grow in the future, any growth in rice production will have to come only from productivity gains. Since climate change is a continuous process, the rice production system requires specific adaptation strategies to prevent rice yield losses and its variability. Therefore, it's critical to understand how climate change affects rice crop and to follow better production practises including crop establishment methods, water management, weed management, nutrient management and microbial resources utilization that make cropping systems more resilient to extreme weather events. The spread of climate resilient production technologies would benefit rice production systems' resilience.


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