Related papers: Data-Driven Revenue Management for Air Cargo
We propose AI-CARGO, a revenue management system for air-cargo that combines machine learning prediction with decision-making using mathematical optimization methods. AI-CARGO addresses a problem that is unique to the air-cargo business,…
We address a dynamic pricing problem for airlines aiming to maximize expected revenue from selling cargo space on a single-leg flight. The cargo shipments' weight and volume are uncertain and their precise values remain unavailable at the…
Traditional revenue management relies on long and stable historical data and predictable demand patterns. However, meeting those requirements is not always possible. Many industries face demand volatility on an ongoing basis, an example…
Correctly estimating how demand respond to prices is fundamental for airlines willing to optimize their pricing policy. Under some conditions, these policies, while aiming at maximizing short term revenue, can present too little price…
We consider a distribution logistics scenario where a shipping operator, managing a limited amount of resources, receives a stream of collection requests, issued by a set of customers along a booking time-horizon, that are referred to a…
Revenue management can enable airline corporations to maximize the revenue generated from each scheduled flight departing in their transportation network by means of finding the optimal policies for differential pricing, seat inventory…
As Kalyan T. Talluri and Garrett J. Van Ryzin describe in their work [3], Revenue Management aims to maximize an organization's revenue by considering three types of decision categories: structural, pricing, and quantity. In this document,…
Time series forecasting in the air cargo industry presents unique challenges due to volatile market dynamics and the significant impact of accurate forecasts on generated revenue. This paper explores a comprehensive approach to demand…
In this study, we develop an innovative data-driven optimization approach to solve the drone delivery service planning problem with online demand. Drone-based logistics are expected to improve operations by enhancing flexibility and…
Booking control problems are sequential decision-making problems that occur in the domain of revenue management. More precisely, freight booking control focuses on the problem of deciding to accept or reject bookings: given a limited…
This paper discusses the revenue management (RM) problem to maximize revenue by pricing items or services. One challenge in this problem is that the demand distribution is unknown and varies over time in real applications such as airline…
The International Air Transport Association (IATA) states that the revenue from interline tickets must be shared among the different airlines according to a weighted system. We analyze this problem following an axiomatic approach, and our…
In this paper, we present a novel data-driven optimization approach for trajectory based air traffic flow management (ATFM). A key aspect of the proposed approach is the inclusion of airspace users' trajectory preferences, which are…
In this paper we study the single-item revenue management problem, with no information given about the demand trajectory over time. When the item is sold through accepting/rejecting different fare classes, Ball and Queyranne (2009) have…
Managing stock efficiently remains a core issue in modern logistics, where companies must reconcile cost efficiency with dependable service despite unpredictable market conditions. Conventional models often overlook the direct connection…
Transportation occupies one-third of the amount in the logistics costs, and accordingly transportation systems largely influence the performance of the logistics system. This work presents an adaptive data-driven innovative modular approach…
Demand forecasting is extremely important in revenue management. After all, it is one of the inputs to an optimisation method which aim is to maximize revenue. Most, if not all, forecasting methods use historical data to forecast the…
Airlines and other industries have been making use of sophisticated Revenue Management Systems to maximize revenue for decades. While improving the different components of these systems has been the focus of numerous studies, estimating the…
Aircraft performance models play a key role in airline operations, especially in planning a fuel-efficient flight. In practice, manufacturers provide guidelines which are slightly modified throughout the aircraft life cycle via the tuning…
Airlift operations require the timely distribution of various cargo, much of which is time sensitive and valuable. These operations, however, have to contend with sudden disruptions from weather and malfunctions, requiring immediate…