Time- and Capacity-Based Measurement of Restaurant Revenue
نویسندگان
چکیده
منابع مشابه
Restaurant Revenue Management
We develop two classes of optimization models to maximize revenue in a restaurant (while controlling average waiting time as well as perceived fairness) that may violate the first-come-first-serve (FCFS) rule. In the first class of models, we use integer programming, stochastic programming, and approximate dynamic programming methods to decide dynamically when, if at all, to seat an incoming pa...
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Broadly defined, revenue management (RM) is the process of maximizing revenue from a fixed amount of perishable inventory using “market segmentation” and “demand management” techniques. While RM is not new (in fact it is as old as commerce, e.g., haggling in a market can be considered a form of RM), the theory and practice of RM have seen significant scientific and practical advances in the las...
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Contract (custom) manufacturers of components and manufactured materials such as steel sell capacity under different contract terms to different buyers. In a common practice, the supplier offers a market standard price and lead time combination for products listed in its catalog. At the same time, it strikes annual contracts with some high-volume customers who require recurring delivery of a cu...
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Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an optimal supply mix, specifically on determining the supply mix that would maximize revenue. We used data ...
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To my parents, Ana and Cornel, for their unconditional and unbreakable support iii ACKNOWLEDGEMENTS I would like to thank my family, especially my husband, who has never stopped believing in me, and has never complained being a mother and a father to our two children while I was working on my research. Without him I would have never become the person I am today. I am very grateful I had the cha...
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ژورنال
عنوان ژورنال: Cornell Hospitality Quarterly
سال: 2009
ISSN: 1938-9655,1938-9663
DOI: 10.1177/1938965509349217