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search.filters.applied.f.advisor: Ferguson, Mark E. × End date: 2009 × Start date: 2004 × Item Type: Publication ×

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Revenue Management Performance Drivers: An Empirical Analysis in the Hotel Industry

2007-06-22 , Crystal, Carolyn Roberts

Revenue Management (RM) is an important tool for matching supply and demand by segmenting customers into different segments based on their willingness-to-pay and allocating scarce capacity to the different segments in a way that maximizes firm revenues. The benefits of RM are well accepted in the hospitality industry, and the technical aspects of RM form a rich analytical research stream. However, the research is missing a holistic examination of important elements of effective RM. The literature shows that market segmentation, pricing, forecasting, capacity allocation, IT use, organizational focus, aligned incentives, organizational structure, and education and training contribute to effective RM. We group these elements into two concepts: RM technical capability and RM social support capability and propose that these nine elements positively impact RM performance. We develop scales to measure our constructs and collect responses in the hotel industry. Our survey yields interesting results. In line with expectations, we find evidence that forecasting and organizational focus positively impact RM performance. On the other hand, the results show evidence that improved organizational structure negatively impacts RM performance. We provide a few explanations for this non-intuitive result and proposals for future research.

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Simple Newsvendor Bounds for Inventory Distribution Systems

2006-12-19 , Lystad, Erik D.

To date, closed form optimal solutions for stocking levels in arborescent multiechelon inventory systems have not been obtained. These problems exhibit the joint difficulties of requiring an allocation policy as well as a stocking policy, and the multidimensional nature of their state space makes dynamic programming formulations impractical. In this dissertation, we introduce procedures that approximate multiechelon networks with sets of single installation problems. We first use this technique to solve for base-stock levels in a distribution network with asymmetric retailers. Second, we use this technique to analyze delayed differentiation production processes and provide guidance as to when the strategy is most warranted. Third, we modify the technique to account for inventory that exhibits perishability and solve for stocking policies for distribution systems when the inventory has a fixed shelf life.

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Commitment Decisions with Partial Information Updating (ed.2)

2004-12-21 , DeCroix, Gregory A. , Zipkin, Paul Herbert

In this paper, we extend the results of Ferguson [10] on an end-product manufacturer's choice of when to commit to an order quantity from its parts supplier. During the supplier's lead-time, information arrives about end-product demand. This information reduces some of the forecast uncertainty. While the supplier must choose its production quantity of parts based on the original forecast, the manufacturer can wait to place its order from the supplier after observing the information update. We find that a manufacturer is sometimes better off with a contract requiring an early commitment to its order quantity, before the supplier commits resources. On the other hand, the supplier sometimes prefers a delayed commitment. The preferences depend upon the amount of demand uncertainty resolved by the information as well as which member of the supply chain sets the exchange price. We also show conditions where demand information updating is detrimental to both the manufacturer and the supplier.

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