Conclusion

Abstract

The first chapters of this book contain a comprehensive introduction to the field of RM. In chapter 1, we have characterized a typical RM problem based on the four prerequisites necessity to integrate external factors, limited operational flexibility, heterogeneous valuations and behavior and standardized product range. We have illustrated that RM concepts can be applied to a wealth of industries. Based on the defining characteristics and various example applications we have presented a structure of the field demonstrating the relationship of capacity control, overbooking, dynamic pricing and auctions. We have seen that not every application from those four areas satisfy the prerequisites; we have thus focused on “RM in the strict sense”, i. e. capacity control and overbooking.