Network Revenue Management with Independent Demands

Guillermo Gallego and Huseyin Topaloglu
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Huseyin Topaloglu: Cornell University

Chapter Chapter 2 in Revenue Management and Pricing Analytics, 2019, pp 47-81 from Springer

Abstract: Abstract In this chapter, we consider a firm that has finite capacities of several resources that can be instantly combined into different products with fixed prices. We assume that there is an independent demand stream for each of the products that arrives as a Poisson process. A requested product is purchased if available. The firm generates the revenue associated with the sale and updates the inventories of the resources consumed by the product. If the requested product is not available, then the customer leaves the system without purchasing. The objective of the firm is to decide which products to make available over a finite sales horizon to maximize the total expected revenue from fixed initial inventories that cannot be replenished during the sales horizon.

Date: 2019
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DOI: 10.1007/978-1-4939-9606-3_2

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