Presents a Seminar
Revenue Management When Customers Form Reference Price
Date: Tuesday, 16 April 2013
Time: 03:00pm-04:00pm (Refreshments@02:45pm)
Location: Charlton College of Business, CCB#115
Admission: FREE
by
Professor Shirin Aslani
Industrial Engineerring Department, University of Science and Culture, Iran &
CEO of Raees Coffee Company, Iran
Abstract:Nowadays with few clicks in the internet the customers are able to scan the prices of different products through different selling channels. Once they submit their requests for specific products, they are even able to learn about the last prices that the company has charged for the previous customers. The ability of customers to extract detailed information about previous sales forms an unwritten expectation that impacts their willingness to pay. This expectation, also known as reference price, is becoming an important factor in revenue management as one should be careful about the impact of reference prices while using revenue management techniques. Motivated as such, we study revenue management in the presence of reference price. We finally use simulation techniques to illustrate our results and analyze the impact of reference price in the optimal decisions.
Shirin Aslani is a PhD candidate of Industrial Engineering in Sharif University of Techology and a Lecturer in the Industrial Engineering Department of University of Science and Culture in Iran. She is also CEO of the Raees Coffee Company, established in 2002 that is mostly focused on the production of coffee, Syrup and related accessories and establishment of coffee shop chains as turnkey projects. Raees coffee company also holds the ownership of the most famous coffee shop chain in Iran and is the first company teaching professional and intermediate coffee brewing techniques with the aim of training professional Barista and also housekeepers interested in coffee making. Shirin also set up the PMO (Project Management Office) and developed the ISO procedures for Information Technology Architect (ITA) Company. Shirin was also involved in “Strategic Management of Department of Labor of Iran” and “Initiation of Iran Trade Promotion Organization (TPO)” via Dorsa Andish Consulting Company and Saman Tadbir consulting Company. Shirin Aslani is already a visiting scholar in University of Massachusetts Dartmouth working on Revenue Management with more focus on hotel industry.
For further information about BIRC and its activities, please click the following link: http://www.umassd.edu/birc/
Contact: Dr. Angappa Gunasekaran (agunasekaran@umassd.edu) X9187 or Ms. Juma Miller (j1miller@umassd.edu) X8862.
Acknowledgments: This seminar series is supported by a grant from the Provost Office.
