Apparatus and method of allocating flight inventory resources ba

Details Apparatus and method of allocating flight inventory resources ba Apparatus and method of allocating flight inventory resources ba

1997-03-04

2000-07-04

Lintz, Paul R.

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Reservation, check-in, or booking display for reserved space

705 6, 705 10, G06F 1760

Patent

active

060851643

ABSTRACT:
The present invention relates to an inventory control method and architecture that maximizes revenues derived from the sale of a given inventory resource to a customer. More particularly, the present invention uses a continuous nested execution environment that allows a determination of a minimum acceptable price by continuously computing an optimal sale price based on current demand and supply and expected cancellations. The method described accesses a centrally located information repository and retrieves an inventory resource type and value allowing requests below the minimum acceptable price to be rejected, while requests above the minimum acceptable price can be accepted thus allowing the resource provider to maximize incoming revenues from the sale of its inventory of reservations.

REFERENCES:
patent: 4775936 (1988-10-01), Jung
patent: 5255184 (1993-10-01), Hornick et al.
patent: 5262942 (1993-11-01), Earle
patent: 5270921 (1993-12-01), Hornick
patent: 5369570 (1994-11-01), Parad
Belobaba, Application of a Probabilistic Decision Model to Airline Seat Inventory Control, Operations Research, vol. 37, No. 2, pp. 183-197, Apr. 1989.
Feldman, Joan, "What's a revenue manager to do?", Air Transport World, vol. 30, No. 8, pp. 78-79, Aug. 1993.
Anonynous, "Control Data's Optix helps airlines to maximize discount yields. (software package)", Travel Weekly, vol. 46, p. 27, Aug. 31, 1987.

Affiliated with

Also associated with

Rating

Apparatus and method of allocating flight inventory resources ba does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with Apparatus and method of allocating flight inventory resources ba, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Apparatus and method of allocating flight inventory resources ba will most certainly appreciate the feedback.

Rate now

Comments { 0 }

Profile ID: LFUS-PAI-O-1495157