RM Society Meeting Part II

'Bring your CFO (or any C'X'O) to work' could be a description of the theme of the RM Society meeting in London in June. The idea was to encourage the mutual understanding between RM and other parts of the business, and in particular to create a greater appreciation of the richness of information that resides in the RM system and department, such as demand forecasts, product profitability and especially the secondary outputs from the RM network optimisation, which indicate how the various constraints have hindered the achievement of maximum profits.

This meeting was only open to RM Society members; Pieter chaired a workshop on a similar theme at the Hanson Wade conference in London. The accompanying presentation can be downloaded elsewhere on this website.

Terrapinn Conference

Terrapinn organised a conference on various technological topics relevant to the Rail industry. This took place from 8 to 10 November 2011, in Amsterdam. Pieter chaired a workshop on Rail Revenue Management, which was attended by rail operators from the UK, Finland, Italy and Canada. Click here to view the supporting slides.

RM Society Meeting

The RM Society meeting was held in London on the 17th of November. The morning centered around a discussion on price-sensitivity modelling and the afternoon focused on application of RM techniques and principles to new business environments.

Click here for the presentation Pieter presented in the morning.

For the afternoon, Pieter presented on the application of RM principles to medium-term processes. This is largely uncharted territory, certainly from a automation and optimisation perspective. These decisions are taken at slightly aggregated levels, e.g. for a whole planning period, or for a large number of transactions, such as B2B contract negotiation or even group booking. As such, the frequency of this kind of decision-making is lower, but the degree of freedom to decide on (or negotiate) the outcome are generally greater. By applying RM techniques, these decisions can be made in a way that explicitly aims to improve the balance between supply and demand. Ideally, these medium-term decisions are not only based on the same principles, but also use the same data as the short-term, tactical RM decision-making (such as dynamic pricing).

Click here to view the afternoon presentation.

Eye for Travel in Prague

Eye for Travel had chosen Prague as the venue for their annual European Pricing and RM conference. It took place on 29 and 30 November 2011. This year, PDC facilitated two sessions:

1. A quick conceptual introduction to Revenue Management, for those who visit the conference without a background in RM. This will consist of an executive preview of the RM Concepts Training that PDC launched earlier this year.

2. A thought- and discussion-provoking presentation on aligning the objectives and practices of Client Relationship Management and Revenue Management.

In the run up to the conference, Pieter also gave an interviewto Ritesh Gupta from Eye for Travel.

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