Yield Management

Yield management 1 Yield management is a large revenue generator for several major industries; Robert Crandall, former Chairman and CEO of American Airlines, gave yield management its name and has called it the single most important technical development in transportation management since we entered deregulation

Yield management - Definition 1 Yield management strategists frequently must work with one or more other departments when designing and implementing yield management strategies.Revenue Management

Yield management - History 1 Deregulation is generally regarded as the catalyst for yield management in the airline industry, but this tends to overlook the role of Global Distribution Systems (GDSs)

Yield management - History 1 The yield management systems developed at American Airlines were recognized by the Edelman Prize committee of Institute for Operations Research and the Management Sciences|INFORMS for contributing $1.4 billion in a three-year period at the airline.

Yield management - History 1 Whereas revenue management involves predicting consumer behavior by segmenting markets, forecasting demand, and optimizing prices for several different types of products, yield management refers specifically to maximizing revenue through inventory control

Yield management - Use by industry 1 Yield management practitioners typically claim 3% to 7% incremental revenue gains

Yield management - Use by industry 1 Yield management has significantly altered the travel and hospitality industry since its inception in the mid-1980s

Yield management - Hotels 1 Yield management in hotels is selling rooms and services at the right price, at the right time, to the right people.

Yield management - Rental 1 In the rental car industry, yield management deals with the sale of optional insurance, damage waivers and vehicle upgrades. It accounts for a major portion of the rental company's profitability, and is monitored on a daily basis. In the equipment rental industry, yield management is a method to manage rental rates against capacity (available fleet) and demand.Peterson, Lucy (September 2005). [ group.com/news/printarticle.asp?articleid=2441 Yield Management: International Rental]

Yield management - Intercity buses 1 Finnish low-cost inter-city bus service Onnibus bases its revenue flow on yield management.

Yield management - Multifamily housing 1 The multifamily industry currently has two providers of yield management systems, the LRO (Lease Rent Options) Revenue Management System from Rainmaker, and the YieldStar Asset Optimization System from RealPage. There are new providers that have entered the market and provide extended capabilities in a much more simplified workflow. Chief among the new vendors is Property Solutions International with its PricingPortal product.

Yield management - Telecommunications 1 and Ericsson have promoted yield management as a strategy for communications service providers to generate additional revenue and reduce capital expenditures by maximizing subscriber use of available network bandwidth.[ vation-insight/telecom-yield-management.pdf Applying Yield Management in the Mobile Broadband Market] Approaches include basing a strategy on innovative services explicitly designed to use only spare capacity and borrowing proven methods from the airline industry.

Yield management - Telecommunications 1 Suggested approaches to executing a successful yield management strategy include accurate network information collection, bandwidth capacity allocation that doesn’t impact service quality, the deployment of service management software such as real time policy and real- time charging, and using new marketing channels to target consumers with innovative services.

Yield management - Experimental studies of yield management decisions 1 Further, this research reveals that errors in yield management decisions tend to be quite systematic

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