Invention Grant
- Patent Title: Overbooking and cost minimization methods and systems
- Patent Title (中): 超额预算和成本最小化方法和系统
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Application No.: US13352757Application Date: 2012-01-18
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Publication No.: US08645173B2Publication Date: 2014-02-04
- Inventor: James Fox , Randeep Ramamurthy , Julianne Anderson , Arthur Busse , Marcial Lapp , Daniel Muzich , Thomas Trenga
- Applicant: James Fox , Randeep Ramamurthy , Julianne Anderson , Arthur Busse , Marcial Lapp , Daniel Muzich , Thomas Trenga
- Applicant Address: US AZ Tempe
- Assignee: US Airways, Inc.
- Current Assignee: US Airways, Inc.
- Current Assignee Address: US AZ Tempe
- Agency: Snell & Wilmer L.L.P.
- Main IPC: G06Q10/00
- IPC: G06Q10/00 ; G06Q50/00

Abstract:
A computer based system for maximizing revenue by determining an optimal quantity of a product to be sold is disclosed. The system determines the optimal number of seats to be sold for a flight based upon the flight's capacity and forecasted costs associated with the flight. The forecasting is based upon probabilistic distribution models takes into account passenger itinerary data, passenger and market historical data, whether a passenger has flown on a previous leg of an itinerary, the ripple denied boarding effect of reaccommodating a denied passenger. The system evaluates the potential effect of double selling a unit of inventory (e.g., seats). Downstream inventory control, revenue management and reservations systems may use the optimization data to affect the operation of the airline.
Public/Granted literature
- US20130132132A1 OVERBOOKING AND COST MINIMIZATION METHODS AND SYSTEMS Public/Granted day:2013-05-23
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