What is involved in Yield Management
Find out what the related areas are that Yield Management connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Yield Management thinking-frame.
How far is your company on its Yield Management journey?
Take this short survey to gauge your organization’s progress toward Yield Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Yield Management related domains to cover and 149 essential critical questions to check off in that domain.
The following domains are covered:
Yield Management, National Railway, Supply and demand, Marginal revenue, National Car Rental, Revenue shortfall, Algorithmic pricing, Weighted mean, Multi-family residential, Global economy, Frequent flier, Price discrimination, Financial engineering, Last minute advertising, Real-time charging, Communications service provider, Market segmentation, General Motors, Die Zeit, Electronic commerce, Littlewood’s rule, Inventory control, Inverse probability, Price point, Car rental, Vertical bar, Revenue Analytics, Institute for Operations Research and the Management Sciences, Control system, Customer service, Variable cost, Airline seat, Production management, Dynamic programming, Airline ticket, The Coca-Cola Company, Mass production, Expected Marginal Seat Revenue, Luxury vehicles, Customer base, Global Distribution System, Opera house, Point of interest, Experimental economics, Backstage pass, Financial markets, Multifamily Executive Magazine, Vending machine, Dynamic packaging, American Airlines, Pricing power, Deutsche Bahn, Mathematical models, Loyalty business model, Revenue management:
Yield Management Critical Criteria:
Study Yield Management decisions and secure Yield Management creativity.
– At what point will vulnerability assessments be performed once Yield Management is put into production (e.g., ongoing Risk Management after implementation)?
– What are our needs in relation to Yield Management skills, labor, equipment, and markets?
– How will you measure your Yield Management effectiveness?
National Railway Critical Criteria:
Use past National Railway adoptions and describe the risks of National Railway sustainability.
– How important is Yield Management to the user organizations mission?
– What is our formula for success in Yield Management ?
– Are we Assessing Yield Management and Risk?
Supply and demand Critical Criteria:
Powwow over Supply and demand goals and attract Supply and demand skills.
– In a project to restructure Yield Management outcomes, which stakeholders would you involve?
– What is the purpose of Yield Management in relation to the mission?
Marginal revenue Critical Criteria:
Grade Marginal revenue adoptions and gather practices for scaling Marginal revenue.
– How do we measure improved Yield Management service perception, and satisfaction?
– What are the short and long-term Yield Management goals?
– How can the value of Yield Management be defined?
National Car Rental Critical Criteria:
Accommodate National Car Rental leadership and point out National Car Rental tensions in leadership.
– What role does communication play in the success or failure of a Yield Management project?
– Is maximizing Yield Management protection the same as minimizing Yield Management loss?
– Do we monitor the Yield Management decisions made and fine tune them as they evolve?
Revenue shortfall Critical Criteria:
Learn from Revenue shortfall results and adjust implementation of Revenue shortfall.
– Do we have past Yield Management Successes?
Algorithmic pricing Critical Criteria:
Inquire about Algorithmic pricing projects and finalize the present value of growth of Algorithmic pricing.
– In what ways are Yield Management vendors and us interacting to ensure safe and effective use?
Weighted mean Critical Criteria:
Use past Weighted mean leadership and shift your focus.
– How do senior leaders actions reflect a commitment to the organizations Yield Management values?
– Risk factors: what are the characteristics of Yield Management that make it risky?
– What are the barriers to increased Yield Management production?
Multi-family residential Critical Criteria:
Use past Multi-family residential risks and display thorough understanding of the Multi-family residential process.
– What vendors make products that address the Yield Management needs?
– What threat is Yield Management addressing?
Global economy Critical Criteria:
Investigate Global economy results and don’t overlook the obvious.
– Do we cover the five essential competencies-Communication, Collaboration,Innovation, Adaptability, and Leadership that improve an organizations ability to leverage the new Yield Management in a volatile global economy?
– How do you determine the key elements that affect Yield Management workforce satisfaction? how are these elements determined for different workforce groups and segments?
– Does Yield Management analysis isolate the fundamental causes of problems?
– What about Yield Management Analysis of results?
Frequent flier Critical Criteria:
Huddle over Frequent flier issues and optimize Frequent flier leadership as a key to advancement.
– Have you identified your Yield Management key performance indicators?
– How do we go about Securing Yield Management?
Price discrimination Critical Criteria:
Drive Price discrimination engagements and ask questions.
– Will Yield Management have an impact on current business continuity, disaster recovery processes and/or infrastructure?
– Is the Yield Management organization completing tasks effectively and efficiently?
Financial engineering Critical Criteria:
Audit Financial engineering engagements and slay a dragon.
– A compounding model resolution with available relevant data can often provide insight towards a solution methodology; which Yield Management models, tools and techniques are necessary?
– What are the Key enablers to make this Yield Management move?
– How do we manage Yield Management Knowledge Management (KM)?
Last minute advertising Critical Criteria:
Disseminate Last minute advertising failures and devote time assessing Last minute advertising and its risk.
– How do you incorporate cycle time, productivity, cost control, and other efficiency and effectiveness factors into these Yield Management processes?
– What may be the consequences for the performance of an organization if all stakeholders are not consulted regarding Yield Management?
Real-time charging Critical Criteria:
Depict Real-time charging projects and change contexts.
– Who is responsible for ensuring appropriate resources (time, people and money) are allocated to Yield Management?
Communications service provider Critical Criteria:
Focus on Communications service provider projects and catalog what business benefits will Communications service provider goals deliver if achieved.
– What are your current levels and trends in key measures or indicators of Yield Management product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– If voip is classified as a telecommunications service, should access charges for it be different from those paid by non-ip-enabled telecommunications service providers?
– Does the Yield Management task fit the clients priorities?
Market segmentation Critical Criteria:
Deliberate over Market segmentation adoptions and frame using storytelling to create more compelling Market segmentation projects.
– What are the disruptive Yield Management technologies that enable our organization to radically change our business processes?
– Can we establish a new market segmentation strategy focused on potential profitability and willingness to purchase?
– How do we ensure that implementations of Yield Management products are done in a way that ensures safety?
General Motors Critical Criteria:
Familiarize yourself with General Motors goals and correct General Motors management by competencies.
– In the case of a Yield Management project, the criteria for the audit derive from implementation objectives. an audit of a Yield Management project involves assessing whether the recommendations outlined for implementation have been met. in other words, can we track that any Yield Management project is implemented as planned, and is it working?
– Why is it important to have senior management support for a Yield Management project?
– Is Yield Management Realistic, or are you setting yourself up for failure?
Die Zeit Critical Criteria:
Own Die Zeit adoptions and arbitrate Die Zeit techniques that enhance teamwork and productivity.
– Who will be responsible for documenting the Yield Management requirements in detail?
Electronic commerce Critical Criteria:
Tête-à-tête about Electronic commerce engagements and modify and define the unique characteristics of interactive Electronic commerce projects.
– Who will be responsible for making the decisions to include or exclude requested changes once Yield Management is underway?
– What potential environmental factors impact the Yield Management effort?
– Is the security of electronic commerce services and their secure use ensured?
– What are all of our Yield Management domains and what do they do?
Littlewood’s rule Critical Criteria:
Be clear about Littlewood’s rule projects and maintain Littlewood’s rule for success.
– Do the Yield Management decisions we make today help people and the planet tomorrow?
– Why is Yield Management important for you now?
Inventory control Critical Criteria:
Think about Inventory control leadership and cater for concise Inventory control education.
Inverse probability Critical Criteria:
Contribute to Inverse probability tasks and do something to it.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Yield Management process. ask yourself: are the records needed as inputs to the Yield Management process available?
– What sources do you use to gather information for a Yield Management study?
– How do we Improve Yield Management service perception, and satisfaction?
Price point Critical Criteria:
Interpolate Price point failures and plan concise Price point education.
– How do we make it meaningful in connecting Yield Management with what users do day-to-day?
– Does Yield Management appropriately measure and monitor risk?
Car rental Critical Criteria:
Merge Car rental issues and balance specific methods for improving Car rental results.
– Do you monitor the effectiveness of your Yield Management activities?
– Is a Yield Management Team Work effort in place?
Vertical bar Critical Criteria:
Distinguish Vertical bar visions and document what potential Vertical bar megatrends could make our business model obsolete.
– Think about the functions involved in your Yield Management project. what processes flow from these functions?
– Do Yield Management rules make a reasonable demand on a users capabilities?
Revenue Analytics Critical Criteria:
Frame Revenue Analytics leadership and assess what counts with Revenue Analytics that we are not counting.
– Is the scope of Yield Management defined?
Institute for Operations Research and the Management Sciences Critical Criteria:
Read up on Institute for Operations Research and the Management Sciences decisions and suggest using storytelling to create more compelling Institute for Operations Research and the Management Sciences projects.
– How do we know that any Yield Management analysis is complete and comprehensive?
– How do we maintain Yield Managements Integrity?
– How can we improve Yield Management?
Control system Critical Criteria:
Substantiate Control system strategies and figure out ways to motivate other Control system users.
– Has your organization conducted a cyber risk or vulnerability assessment of its information systems, control systems, and other networked systems?
– How can you experiment with a complex change and benefit from the version control system without making the change public?
– Is Cybersecurity integrated between business systems and control systems?
– Will Yield Management deliverables need to be tested and, if so, by whom?
– How can skill-level changes improve Yield Management?
– What is a Management Control System?
– What is your quality control system?
– How much does Yield Management help?
Customer service Critical Criteria:
Have a round table over Customer service results and catalog Customer service activities.
– In the past year, have companies generally improved or worsened in terms of how quickly you feel they respond to you over social media channels surrounding a general inquiry or complaint?
– How would you as an individual feel if you had made what you felt was a valid complaint, and the organization/company dismissed it as being of no concern and not worth sorting out?
– Why is Customer Service and helpdesks so undervalued given that this is a core part of branding and growth i e The head of the Service Desk is not a CxO level title?
– Do we offer the opportunity to provide feedback regarding a supervisors leadership skills. if so, do we find it valuable, and are they able to remain constructive?
– Do we do this…As you approach the front desk, the Customer Service professional is busy typing on a computer. after several seconds, he mumbles, yes?
– Why would potential clients outsource their business to us if they can perform the same level of Customer Service in house?
– What are some things you can do as a Customer Service professional to project a positive image to the customer?
– Which of the following are reasons you use social media when it comes to Customer Service?
– Would suppliers classify your organization as being one of their best or worse customers?
– What kind of qualities would staff members who deliver stellar Customer Service possess?
– When dealing with customers with a disability, how can you best help them?
– What awards has Customer Service in our organization been presented?
– Complaints are a gift why do people complain in the first place?
– Customer Service: How can social CRM improve service quality?
– How often do you direct the caller to our web site?
– What do we do when we Cant resolve the problem!?
– Is it a pleasure to do business with you?
– How do I contact Customer Service?
Variable cost Critical Criteria:
Grasp Variable cost goals and do something to it.
– Consider your own Yield Management project. what types of organizational problems do you think might be causing or affecting your problem, based on the work done so far?
– Will new equipment/products be required to facilitate Yield Management delivery for example is new software needed?
Airline seat Critical Criteria:
Focus on Airline seat adoptions and display thorough understanding of the Airline seat process.
Production management Critical Criteria:
Contribute to Production management tactics and point out improvements in Production management.
– What is the source of the strategies for Yield Management strengthening and reform?
– What business benefits will Yield Management goals deliver if achieved?
Dynamic programming Critical Criteria:
Gauge Dynamic programming leadership and reduce Dynamic programming costs.
– Are there any disadvantages to implementing Yield Management? There might be some that are less obvious?
– What are internal and external Yield Management relations?
Airline ticket Critical Criteria:
Tête-à-tête about Airline ticket issues and pioneer acquisition of Airline ticket systems.
– To what extent does management recognize Yield Management as a tool to increase the results?
– Who are the people involved in developing and implementing Yield Management?
– How is the value delivered by Yield Management being measured?
The Coca-Cola Company Critical Criteria:
Transcribe The Coca-Cola Company issues and tour deciding if The Coca-Cola Company progress is made.
– Does Yield Management create potential expectations in other areas that need to be recognized and considered?
– What are specific Yield Management Rules to follow?
Mass production Critical Criteria:
Shape Mass production visions and slay a dragon.
– What prevents me from making the changes I know will make me a more effective Yield Management leader?
Expected Marginal Seat Revenue Critical Criteria:
Brainstorm over Expected Marginal Seat Revenue management and arbitrate Expected Marginal Seat Revenue techniques that enhance teamwork and productivity.
– How to Secure Yield Management?
Luxury vehicles Critical Criteria:
Canvass Luxury vehicles engagements and define what our big hairy audacious Luxury vehicles goal is.
Customer base Critical Criteria:
Examine Customer base engagements and triple focus on important concepts of Customer base relationship management.
– How representative is twitter sentiment analysis relative to our customer base?
– How well does the product fit our current customer base?
– What are the demographics of the customer base?
– Who sets the Yield Management standards?
– Why are Yield Management skills important?
Global Distribution System Critical Criteria:
Meet over Global Distribution System results and document what potential Global Distribution System megatrends could make our business model obsolete.
– Among the Yield Management product and service cost to be estimated, which is considered hardest to estimate?
Opera house Critical Criteria:
Be responsible for Opera house projects and oversee Opera house management by competencies.
– What are the key elements of your Yield Management performance improvement system, including your evaluation, organizational learning, and innovation processes?
– What are the record-keeping requirements of Yield Management activities?
Point of interest Critical Criteria:
Debate over Point of interest strategies and customize techniques for implementing Point of interest controls.
– Are there any easy-to-implement alternatives to Yield Management? Sometimes other solutions are available that do not require the cost implications of a full-blown project?
– How can you negotiate Yield Management successfully with a stubborn boss, an irate client, or a deceitful coworker?
Experimental economics Critical Criteria:
Derive from Experimental economics failures and optimize Experimental economics leadership as a key to advancement.
– How do mission and objectives affect the Yield Management processes of our organization?
– How to deal with Yield Management Changes?
Backstage pass Critical Criteria:
Systematize Backstage pass outcomes and revise understanding of Backstage pass architectures.
– Where do ideas that reach policy makers and planners as proposals for Yield Management strengthening and reform actually originate?
– How do we go about Comparing Yield Management approaches/solutions?
Financial markets Critical Criteria:
Wrangle Financial markets visions and finalize specific methods for Financial markets acceptance.
– For your Yield Management project, identify and describe the business environment. is there more than one layer to the business environment?
– Do several people in different organizational units assist with the Yield Management process?
Multifamily Executive Magazine Critical Criteria:
Test Multifamily Executive Magazine issues and look in other fields.
Vending machine Critical Criteria:
Air ideas re Vending machine leadership and correct better engagement with Vending machine results.
– Can we add value to the current Yield Management decision-making process (largely qualitative) by incorporating uncertainty modeling (more quantitative)?
– What is Effective Yield Management?
Dynamic packaging Critical Criteria:
Align Dynamic packaging decisions and catalog what business benefits will Dynamic packaging goals deliver if achieved.
– What will drive Yield Management change?
American Airlines Critical Criteria:
Apply American Airlines tasks and perfect American Airlines conflict management.
– Are assumptions made in Yield Management stated explicitly?
Pricing power Critical Criteria:
Powwow over Pricing power results and check on ways to get started with Pricing power.
– How do your measurements capture actionable Yield Management information for use in exceeding your customers expectations and securing your customers engagement?
– What knowledge, skills and characteristics mark a good Yield Management project manager?
Deutsche Bahn Critical Criteria:
Conceptualize Deutsche Bahn decisions and pay attention to the small things.
Mathematical models Critical Criteria:
Value Mathematical models issues and ask questions.
Loyalty business model Critical Criteria:
Add value to Loyalty business model management and clarify ways to gain access to competitive Loyalty business model services.
Revenue management Critical Criteria:
Investigate Revenue management adoptions and drive action.
– What are the success criteria that will indicate that Yield Management objectives have been met and the benefits delivered?
– What are the usability implications of Yield Management actions?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Yield Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Yield Management External links:
“A“4-C” Strategy for Yield Management” by Glenn Withiam
What is Yield Management? definition and meaning
National Railway External links:
Baltimore Chapter, National Railway Historical Society – …
Canadian National Railway Company Common Stock …
Supply and demand External links:
Supply and Demand – BrainPOP
Nursing: Supply and Demand through 2020 – CEW Georgetown
The Law of Supply and Demand Flashcards | Quizlet
Marginal revenue External links:
How to Calculate Marginal Revenue | Chron.com
National Car Rental External links:
National Mobile App – National Car Rental
15% Off National Car Rental Coupons & Codes – January 2018
National Car Rental – Official Site
Algorithmic pricing External links:
Algorithmic Pricing Is Creating An Arms Race On …
Weighted mean External links:
Weighted Mean: Formula: How to Find Weighted Mean
Tariff rate, applied, weighted mean, all products (%) | Data
Compute a weighted mean in SAS – The DO Loop
Global economy External links:
The Global Economy in 2018 – Council on Foreign Relations
Global Economy 2017: Here Are 5 Trends to Watch For – Fortune
Frequent flier External links:
Maximize Your Travel Points & Frequent Flier Miles
Best Ways to Use Frequent Flier Miles – Entrepreneur
Price discrimination External links:
3 Types of Price Discrimination | Chron.com
Price Discrimination – Investopedia
Price Discrimination | Intelligent Economist
Financial engineering External links:
Financial Engineering, MS | NYU Tandon School of …
WorldQuant University | Tuition-Free Financial Engineering …
Communications service provider External links:
Communications Service Provider Operations
Communications Service Provider – Opus Networks
Lithexcel, Marketing and Communications Service Provider
Market segmentation External links:
Examples of Market Segmentation | Chron.com
Market Segmentation (Ch. 7) Flashcards | Quizlet
Target Marketing Definition – Market Segmentation
General Motors External links:
Login | General Motors Portal by OEConnection
General Motors | Official Global Site | GM.com
General Motors Company Common Stock (GM) – NASDAQ.com
Die Zeit External links:
wingenfelder:Wingenfelder – Wenn die Zeit kommt …
Für dich dreh ich die Zeit zurück (TV Movie 2017) – IMDb
Audi Logo Evolution über die Zeit – YouTube
Electronic commerce External links:
Simplix – The Electronic Commerce Solution
Asia Navy Electronic Commerce Online
Barnes & Noble Electronic Commerce
Littlewood’s rule External links:
Revenue Management – Littlewood’s Rule – Part 2 – YouTube
Revenue Management – Littlewood’s Rule Part 1 – YouTube
Inventory control External links:
Multichannel Inventory Control Software | Ecomdash
Inventory Control Specialist Salary – PayScale
Inventory control (eBook, 2006) [WorldCat.org]
Inverse probability External links:
[PDF]5 Methods Based on Inverse Probability Weighting …
Behind the Numbers: Inverse Probability Weighting | …
[PDF]Inverse Probability Tilting with Spatial Data: Some …
Price point External links:
Price Point Gaylord | Vehicles for sale in Gaylord, MI 49735
The Best Flatirons for Every Price Point | Allure
The Best AR-15 Optics at Every Price Point – Guns & Ammo
Car rental External links:
National Car Rental – Official Site
Car Rental Locations – Enterprise Rent-A-Car
Vertical bar External links:
Shop Priefert Panel Vertical Bar 6 – NRSworld.com
http://www.nrsworld.com › … › Panels › Sheep/Goat/Hog Size
84″H x 36″W x 24″D Gray Vertical Bar Storage Rack | Fastenal
Rogue Vertical Bar Hanger | Rogue Fitness
Revenue Analytics External links:
Revenue Analytics – Official Site
Retail Sales Forecasting Software | Revenue Analytics
Customer service External links:
Customer Service – WFG National Title Company
CW Title – customer service
Customer Service | Progressive
Variable cost External links:
Is labor a fixed or variable cost? – Quora
variable cost – Everything2.com
What is a variable cost? definition and meaning
Production management External links:
Production Management Flashcards | Quizlet
I-CAR – New Production Management Role
About Our Company | Power Production Management
Dynamic programming External links:
algorithm – What is dynamic programming? – Stack Overflow
[PDF]A CHILD’S GUIDE TO DYNAMIC PROGRAMMING
Airline ticket External links:
Airline Ticket Giveaway Scam – Snopes.com
Cheap Flights & Airline Tickets | KAYAK
JetBlue | Flights and Airline Tickets at Discount Prices
The Coca-Cola Company External links:
Careers at The Coca-Cola Company
The Coca-Cola Company : Login
Mass production External links:
mass production – Thesaurus.com | Synonyms and …
Mass Production – Firecracker!! – YouTube
Mass production of biodegradable plastic — ScienceDaily
Expected Marginal Seat Revenue External links:
EMSR abbreviation stands for Expected Marginal Seat Revenue
Expected marginal seat revenue – WOW.com
Expected Marginal Seat Revenue – TheFreeDictionary
Luxury vehicles External links:
Pre-owned Lifted Trucks, Sports Cars, & Luxury Vehicles
Customer base External links:
Customer Base | TI Automotive
Global Distribution System External links:
Ingresso – the Global Distribution System for entertainment
Global Distribution System (GDS) for Hotels | innRoad
Global Distribution System – hotelogix.com
Opera house External links:
Sydney Opera House – Official Site
Lexington Opera House – Official Site
Point of interest External links:
point of interest – Thesaurus.com | Synonyms and …
Point of Interest Data | MapQuest for Business
Experimental economics External links:
Experimental Economics – Volume I: Economic | Pablo …
ESA – Experimental Economics | ESA
Experimental economics (Book, 1993) [WorldCat.org]
Backstage pass External links:
Casino Backstage Pass | Hard Rock Hotel and Casino
FYE Backstage Pass VIP – fyevip.com
“That ’70s Show” Backstage Pass (TV Episode 2001) – IMDb
Financial markets External links:
Financial Markets – RMIT University
MarketWatch.com – U.S. Markets – US Financial Markets
Multifamily Executive Magazine External links:
Mind Power | Multifamily Executive Magazine | …
Multifamily Executive Magazine: Best Reuse of Land, …
Subscribe or Renew Multifamily Executive Magazine …
Vending machine External links:
How to Make Gumball House Vending Machine Without DC …
VendSoft – Vending Machine Route Management
Candy Vending Machines – Vending Machine Supplies, …
Dynamic packaging External links:
Dynamic Packaging, LLC – Home | Facebook
American Airlines External links:
American Airlines – Login
American Airlines Credit UnionOnline Banking
American Airlines Credit Union | We Work For You
Deutsche Bahn External links:
Deutsche Bahn – discover Germany and Europe by rail!
Mathematical models External links:
Mathematical Models – Math Is Fun
Templates_Torus | These mathematical models were …
Loyalty business model External links:
loyalty business model | Adrian Swinscoe
Loyalty Business Model | Global Marketing Montreal
Revenue management External links:
AgYield | Farm Revenue Management
Revenue Management Software | YieldStar
Model N High Tech Revenue Management