OR Student Seminar - Optimisation Methods in Network Revenue Management, Simos Zachariades (Southampton) Seminar

Event details

Revenue Management (RM) is the field of Operations Research where techniques, strategies and tactics are employed to scientifically manage demand for products and services such that revenues are maximised. In this talk we will be focusing on the paradigm of Airline RM and the models and heuristics used to solve the Network Seat Inventory Control problem. We will be examining the traditional mathematical programs formulated to approximate large airline networks and the nesting heuristics developed to control demand uncertainty. Furthermore, we give a brief introduction to Robust Optimisation (RO). Due to the recent adaptability of RO models on multi-stage, decision-making problems, we overview fairly recent attempts to link the field of Network RM with RO techniques and comment on their effectiveness and tractability.