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What is the process of allocating the right type of capacity to the right kind of customer at the right price to maximize capacity?
What is the process of allocating the right type of capacity to the right kind of customer at the right price to maximize capacity?
- Supply chain optimization
- Yield management (correct)
- Demand management
- Capacity planning
In the context of yield management, what does 'yield' refer to?
In the context of yield management, what does 'yield' refer to?
- Actual capacity used
- Revenue potential (correct)
- Customer satisfaction
- Total revenue
What happens when demand exceeds maximum capacity in yield management?
What happens when demand exceeds maximum capacity in yield management?
- Capacity is underutilized
- Supply exceeds demand
- Prices decrease
- Service quality declines (correct)
What is the key objective of yield management in a hotel setting?
What is the key objective of yield management in a hotel setting?
Yield management involves allocating the right type of capacity to the right kind of customer at the right price to minimize capacity.
Yield management involves allocating the right type of capacity to the right kind of customer at the right price to minimize capacity.
Yield management aims to maximize revenue by adjusting the price of a product or service in response to fluctuations in demand.
Yield management aims to maximize revenue by adjusting the price of a product or service in response to fluctuations in demand.
In yield management, when demand exceeds optimum capacity, service quality improves.
In yield management, when demand exceeds optimum capacity, service quality improves.
Yield management in a hotel setting involves maximizing revenue by adjusting the price of rooms based on demand.
Yield management in a hotel setting involves maximizing revenue by adjusting the price of rooms based on demand.
The yield for the Friday to Sunday hotel scenario improved from 27.8% to 75% by increasing the maximum price per room.
The yield for the Friday to Sunday hotel scenario improved from 27.8% to 75% by increasing the maximum price per room.
What is the purpose of the Foley and Lardner LLP 2020 Global Supply Chain Disruption and Future Strategies Report?
What is the purpose of the Foley and Lardner LLP 2020 Global Supply Chain Disruption and Future Strategies Report?
Explain the concept of yield management in the context of capacity and demand.
Explain the concept of yield management in the context of capacity and demand.
How does yield management contribute to maximizing revenue in a hotel setting?
How does yield management contribute to maximizing revenue in a hotel setting?
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