Data-Driven Revenue Management for Air Cargo

Clicks: 97
ID: 283436
2024
Free PDF
Article Quality & Performance Metrics
Overall Quality
Not rated
Combines reader engagement with the AI quality analysis. This article has not been analysed, so there is no overall score — reader engagement is measured and shown alongside.
AI Quality Assessment
Not analyzed
Readership in this journal
Emerging

Ranked #105 of 803 articles by views in arXiv

Most read Least read

Bar heights use a square-root scale. Only the 120 most-read articles are drawn; the journal has 803 in total.

Mint this article as an NFT
Not yet minted

Create a permanent, verifiable on-chain record of this article on the Scimatic Network. The NFT is held in your Journament account, and you can withdraw it to your own wallet at any time.

5 SUSD one-off · no wallet required
Sign in to mint
Abstract
It is well-recognized that Air Cargo revenue management is quite different from its passenger airline counterpart. Inherent demand volatility due to short booking horizon and lumpy shipments, multi-dimensionality and uncertainty of capacity as well as the flexibility in routing are a few of the challenges to be handled for Air Cargo revenue management. In this paper, we present a data-driven revenue management approach which is well-designed to handle the challenges associated with Air Cargo industry. We present findings from simulations tailored to Air Cargo setting and compare different scenarios for handling of weight and volume bid prices. Our results show that running our algorithm independently to generate weight and volume bid prices and summing the weight and volume bid prices into price optimization works the best by outperforming other strategies with more than 3% revenue gap.
Reference Key
li2024datadriven Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Ezgi Eren; Jiabing Li
Journal arXiv
Year 2024
DOI
DOI not found
URL
http://arxiv.org/abs/2405.11000v1
Keywords
cs.lg cs.gt Management data-driven revenue cargo

Citations

No citations found. To add a citation, contact the admin at info@scimatic.org

Comments

No comments yet. Be the first to comment on this article.