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Dynamic Bid-Price Policies for Make-to-Order Revenue Management

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Operations Research Proceedings 2008

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Summary

A challenge of make-to-order (MTO) manufacturing lies in maximizing the total contribution margin by compiling the optimal order portfolio, given a fixed capacity. Particularly, bid-price based heuristics are successfully applied. The objective of this paper is to provide an extension to traditional bid-price based revenue management in MTO. Based on an analysis of the pros and cons of anticipative and reactive approaches, a hybrid approach combining both elements is proposed.

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References

  1. Klein R (2007) Network capacity control using self-adjusting bid-prices. OR Spectrum 29:pp.39–60

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  2. Spengler T, Rehkopf S (2005) Revenue Management Konzepte zur Entscheidungsunterstützung bei der Annahme von Kundenaufträgen. ZFP 16:pp.123–146

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  3. Spengler T, Rehkopf S, Volling T (2007) Revenue management in make-to-order manufacturing: an application to the iron and steel industry. OR Spectrum 29:pp.157–171

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  4. Spengler T, Volling T, Hintsches A (2008) Integration von Revenue Management Konzepten in die Auftragsannahme. ZFB Special Issue 4/2008: pp. 125–151

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Author information

Authors and Affiliations

  1. Institute for Production and Logistics, TU Braunschweig,

    Thomas Spengler, Thomas Volling & Kai Wittek

  2. Department of Industrial Engineering, Dokuz Eylul University,

    Derya E. Akyol

Authors
  1. Thomas Spengler
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  2. Thomas Volling
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  3. Kai Wittek
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  4. Derya E. Akyol
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Corresponding author

Correspondence to Thomas Spengler .

Editor information

Editors and Affiliations

  1. Fak. Sozial-/Wirtschaftswissenschften, Universität Augsburg, Universitätsstr. 16, Augsburg, 86159, Germany

    Bernhard Fleischmann

  2. Inst. Mathematik, Universität Augsburg, Universitätsstrasse 14, Augsburg, 86159, Germany

    Karl-Heinz Borgwardt

  3. LS für Mathematische Methoden der, Universität Augsburg, Universitätsstr. 16, Augsburg, 86159, Germany

    Robert Klein

  4. Fak. Wirtschafts-und Sozialwiss., Universität Augsburg, Universitätsstr. 16, Augsburg, 86159, Germany

    Axel Tuma

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© 2009 Springer-Verlag Berlin Heidelberg

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Spengler, T., Volling, T., Wittek, K., Akyol, D.E. (2009). Dynamic Bid-Price Policies for Make-to-Order Revenue Management. In: Fleischmann, B., Borgwardt, KH., Klein, R., Tuma, A. (eds) Operations Research Proceedings 2008., vol 2008. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-00142-0_17

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