What Is Meant by Yield Management

question 4

Multiple Choice

What is meant by yield management?

• A) The maximisation of profit through capacity, demand and pricing policies.
• B) Encouraging growth in demand during periods of low demand and restraining it during periods of high demand.
• C) Expanding the operation at periods of high demand in order to yield more sales revenue.
• D) Overbooking capacity to ensure that all capacity is filled at all times.

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Definitions:

Binding Constraint

A constraint in an optimization problem that directly limits the ability to achieve an optimal solution, where any relaxation of the constraint would improve the outcome.

Slack

The amount of time a project task can be delayed without causing a delay to subsequent tasks or the overall project deadline.

Zero

The integer that precedes the positive one and follows the negative one; it is neither negative nor positive.

D-type Steel Sheets

Specific grade of steel sheets characterized by certain mechanical properties and composition, often used in manufacturing.