The Journal of Revenue & Pricing Management covers the subject of Revenue
Management (RM) or sometimes called Yield Management (YM). This is a
management activity that marries the diverse disciplines of operations
research / management science, statistics, economics, human resource
management, software development, marketing, economics, e-commerce, consumer
behaviour and consulting to manage demand for a firm's resource inventory
with the goal of revenue (or profit) maximisation. From a practitioner
standpoint, RM is usually defined as the set of practices that allow
businesses to "sell the right product, to the right customer, at the right
time, at the right price"
RM has been traditionally applied to the travel and hospitality industries.
In particular, the application of RM to the airline industry is potentially
the most spectacular success in the history of RM. In this context, RM is
often identified as managing the reservation process for the sale of seats
on commercial flights. Since seats cannot be stored after a plane takes off,
RM realises that an empty seat after departure constitutes lost revenue.
From this standpoint, RM is typically seen as the art and science of
managing demand for perishable products or services.
The journal was launched at the International Air Transport Association
Revenue Management conference in Athens on 17th October. The journal brings
together the worlds leading academic and industry practitioners, including
Ian Yeoman (Napier University, UK) as Editor and Professor Peter Belobaba
(Massachusetts Institute of Technology, USA), who will act as the America's
editor. Other leading academics on the editorial board include Prof. Larry
Weatherford (Wyoming University, USA), Prof. Sheryl Kimes (Cornell
University, USA), Mrs. Una MacMahon-Beattie (Ulster University, UK) and
Prof. Garret Pyzin (Columbia University, USA). Leading industrial's include
Mr. Paul Rose (British Airways, UK), Mr. Dieter Fulleborn (Lufthansa
Systems, Germany), and Mr. Montgomery Blair (Dollar Rent a Car, USA
Further details of the journal are available at
www.henrystewart.com/journals.jrpm
Ian Yeoman
Editor
Napier University, Edinburgh
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