BUSSCM 1750 - REVENUE MANAGEMENT
Minimum Credits: 3
Maximum Credits: 3
Increasingly, due to shortening product life cycles and capital-intensive capacity decisions, companies are being forced to place greater emphasis on managing constrained, but perishable inventory and capacity. Examples include the transportation industry (encompassing airlines, shipping, car rentals, and trucking), the hotel industry, the entertainment and sporting industry, and the retail industry. The underlying managerial issue is complex, but improved decision making can increase a company’s revenues and profits. In this course, we study quantity and pricing strategies to improve profitability and the course uses microeconomics, operations research, segmentation, and pricing and forecasting concepts that the students would have learned in their economics, quantitative methods, operations, and marketing classes. The methodologies covered in the course include deterministic and stochastic optimization, forecasting, and statistical estimation. Students are also exposed to commercial revenue management software.
Academic Career: Undergraduate
Course Component: Lecture
Grade Component: Letter Grade
Course Requirements: PREQ: BUSQOM 0050 and BUSQOM 1070 (MIN GRADE ‘C’) and (STAT 1000 or 1100); PLAN: Accounting,Finance,General Management,Global Management, Marketing, Business Information Systems,Human Resources Management,Supply Chain ManagementandUndeclared CBA Majors
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