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BUS7372 Advanced Operations Management

tag 0 Download 23 Pages / 5,513 Words tag 10-06-2021

Question:

The revenue management, you know, this is very funny and very technical world as well. There used to be times this world was just specific to the airlines, right?

But now, you see the hotels, the car companies and rental car companies, and restaurants, you know, and there are more and more, uh…this kind of service all into companies. They go into revenue management, and also doing improvements on that one. So when you think about that one, what become generally, this is like setting right room to the right client at right time at right place (people laughing) at right channel, distribution channel. And that is what the revenue management is. It has the pains of change all the time, right?

It used to be more like accounting stuff, you know, you are always calculating the centa, how you can do, ok, this is the conference what you have, ok, it got five ? And this is the cost you do get every day, right?

But now things have changed because of dynamic pricing and also with automation, right?

The revenue mangers, they used to be like, you know, are almost spending half a day with accounting manager, setting, as you will see, like, you know, the cost extra is going to be achieve, and how much is going to be achieve, how to achieve the revenue gross, right?

And then the pricing, but now with the new technology, with a system that you got, you know, 90 percent of the hotels they use dynamic pricing. And system is doing things automatically and now what will be required from a revenue manager to answer your question is market intelligence. That is world, right?

If you know what has happening today in industry in this city, your next door hotel, your competitive set, how many hotels are there in your competitive sets? What is occupancy going? How much median their doing? What kind of gross they have?

Or whatever, right?

That was the require. During our time, I used to have a very fine friend, a revenue manager, so what he used to do, we have different technique of market intelligence. I used to manage the service of department during that time. I have four or five business development managers.

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Total 23 pages

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My Assignment Help (2021) BUS7372 Advanced Operations Management [Online]. Available from: https://myassignmenthelp.com/free-samples/bus7372-advanced-operations-management/organizational-citizenship-behavior-in-hospitality.html
[Accessed 29 January 2023].

My Assignment Help. 'BUS7372 Advanced Operations Management' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/bus7372-advanced-operations-management/organizational-citizenship-behavior-in-hospitality.html> accessed 29 January 2023.

My Assignment Help. BUS7372 Advanced Operations Management [Internet]. My Assignment Help. 2021 [cited 29 January 2023]. Available from: https://myassignmenthelp.com/free-samples/bus7372-advanced-operations-management/organizational-citizenship-behavior-in-hospitality.html.


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