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May 02, 2024
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ITOM 6220 - Revenue Management
Credits: 2
Investigates methods and models for increasing revenue by actively managing prices and capacities for the firm (airline, hotel, railroad, rental car, retail sectors, etc.). Covers a broad range of topics, including price optimization (with and without capacity constraints), Littlewood’s two-class model (and extensions), the n-class single resource revenue management problem, nested capacity controls, bid price controls, heuristic approaches, network capacity control (multiresource problems), overbooking models, markdown optimization, and assortment optimization. Students learn how to implement all models in spreadsheets. Prerequisites: MAST 6201 or MAST 6478 and ITOM 6202 or enrollment in the M.S.B.A. program. (*updated* 1/12/2022; effective spring 2022)
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