Lease expiration management for a single lease term in the apartment industry

Chen, Jing; Wang, Jian; Bell, Peter C.

doi:10.1016/j.ejor.2014.03.025

Cited by 5 publications

(2 citation statements)

References 19 publications

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“…Often RM is practiced less formally by sales or marketing groups who adjust product prices, advertising programs, and develop sales channels or market segments with a view to enhancing revenues. RM as a decision-making protocol is widely established in the service sector, including airlines (Smith et al 1992), hotels (Bitran and Mondschein 1995;Bitran and Gilbert 1996;Baker and Collier 1999), car rental (Geraghty and Johnson 1997), air-cargo (Amaruchkul et al 2007), and apartment leases (Chen et al 2014) and has been spreading rapidly to manufactured goods and the retail sector (for example, Federgruen and Heching 1999;Chen and Bell 2009). Leibs (2000) reported that:…”

Section: Operations Decision Makingmentioning

confidence: 99%

Close integration of pricing and supply chain decisions has strategic as well as operations level benefits

Bell

Chen

2015

Ann Oper Res

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Supply chain decision-making processes that are not tightly integrated with marketing decisions may well be costing the firm twice. First, this will promote poor operations level decisions and second, this may provide management with a view of their firm that will lead to inappropriate strategic decisions. The motivation of this paper is to explore the relationships between decision-making at various levels within the firm and, in particular, the relationship between the firm's strategic and operations decision making. Using the case of a manufacturer managing a supply chain we show that increasing revenues may not increase profits and cutting costs may also reduce profits. We also show that the strategic or tactical view of the firm, and consequently the quality of the firm's strategic and tactical decisions, can be highly dependent on how the firm makes low-level marketing and supply chain decisions. Our results illustrate the significant benefit available to manufacturers who can successfully and tightly integrate production, logistics, and marketing decision making. Such integration will improve operations level decisions and also provide an improved platform for tactical and strategic decisions.

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Section: Operations Decision Makingmentioning

confidence: 99%

Close integration of pricing and supply chain decisions has strategic as well as operations level benefits

Bell

Chen

2015

Ann Oper Res

Self Cite

View full text Add to dashboard Cite

show abstract

“…Meissner and Strauss [89] incorporated customer choice into these models, in which probability of selecting a certain product by the arriving customer is given. A customized application of Markov decision processes to the problem of determining rental rates in the apartment lease industry is suggested by Chen et al [27].Özkan et al [93] formulate a Markov decision process for situations in which demand depends on the current external environment, representing economic, financial, social or other factors that affect customer behavior.…”

Section: Network Seat Inventory Controlmentioning

confidence: 99%