Identify a true statement about yield management systems.
A)They determine the availability of product substitutes in industries that are experiencing rapid change.
B)They use a software that employs techniques such as discounting early purchases and limiting early sales at these discounted prices.
C)They predict necessary service levels required to achieve revenue goals.
D)They determine whether it is financially more feasible to buy a new product or repair a broken one.

Question

Identify a true statement about yield management systems.
A)​They determine the availability of product substitutes in industries that are experiencing rapid change.
B)They use a software that employs techniques such as discounting early purchases and limiting early sales at these discounted prices.
C)They predict necessary service levels required to achieve revenue goals.
D)​They determine whether it is financially more feasible to buy a new product or repair a broken one.

Quizplus · Accepted Answer

Yield management systems use software that employs techniques such as discounting early purchases and limiting early sales at these discounted prices. This helps to optimize revenue by managing pricing and inventory levels. Option A is incorrect as yield management systems are not related to determining the availability of product substitutes. Option C is also incorrect as yield management systems do not predict service levels. Option D is completely unrelated to yield management systems.

Identify a True Statement About Yield Management Systems