Revenue Management Systems (RMS)
A)are batched daily
B)rely solely on overbooking
C)are cost minimization models
D)are time-dependent

Question

Quizplus · Accepted Answer

Revenue Management Systems (RMS) are time-dependent as they rely on forecasting demand and adjusting prices dynamically based on time, such as seasonality and booking patterns. RMS aim to maximize revenue by selling the right product to the right customer at the right time and price, while taking into account factors such as costs, competition, and customer behavior.