Yield Management applied to transport and restaurant services

Abstract

Yield Management, aims to contribute to improving the business performance of a part of the services sector, through the optimal use of its resources, applying as a recognized technique profitability. Yield Management is defined as the technique applied to companies offering perishable service units with variable demand and variable prices, different for the same service, depending on when the time to sell the unit right capacity at the right price, the appropriate client, promptly. lt applies to services sold in advance and the sale ata time close to their consumption takes place at higher prices, as hotels and air transport, whose capacity units available are perishable and not sold every day, represent a loss of income because they can be stored for a later period. That is why it is important to accurately forecast demand for these services. The problem is that these companies have a fixed capacity to provide services and variable demand, which is why it is necessary to optimize the use of available resources so that companies maximize profitability, reducing the problem to define the optimal amount of service to be offered and the optimal price at which to sell.