A Simulator To Estimate The Cancellations In YM

P.K.Suri; Rakesh Kumar; Pardeep Kumar Mittal

doi:https://doi.org/10.14445/22315381/IJETT-V5N2P112

Research Article | Open Access | Download PDF

Volume 5 | Number 1 | Year 2013 | Article Id. IJETT-V5N2P112 | DOI : https://doi.org/10.14445/22315381/IJETT-V5N2P112

A Simulator To Estimate The Cancellations In YM

P.K.Suri , Rakesh Kumar , Pardeep Kumar Mittal

Citation :

P.K.Suri , Rakesh Kumar , Pardeep Kumar Mittal, "A Simulator To Estimate The Cancellations In YM," International Journal of Engineering Trends and Technology (IJETT), vol. 5, no. 1, pp. 66-69, 2013. Crossref, https://doi.org/10.14445/22315381/IJETT-V5N2P112

Abstract

In case of Yield Management (YM), even if the yield is optimized using some technique, it is not guaranteed that the final revenue obtained will be maximum or optimized. Since in almost all the industries where YM can be implemented, some of the customers may either cancel their seats or some customers do not show-up even after their booking. These cases needs to be taken care of as lot of revenue loss may occur due to these cancellations or no-shows. This paper tries to estimate the cancellations via a simulator using GA in an airline YM. The simulator has been developed using MATLAB.

Keywords

Advance Reservation, Cancellations, Genetic Algorithm, No-shows, Yield Management

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