Restaurant Revenue Management at Chevys: Determining the Best Table Mix
ABSTRACT Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an...
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| Veröffentlicht in: | Decision sciences 2004-08, Vol.35 (3), p.371-392 |
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| creator | Kimes, Sheryl E. Thompson, Gary M. |
| description | ABSTRACT
Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an optimal supply mix, specifically on determining the supply mix that would maximize revenue. We used data from a Chevys restaurant, part of a large chain of Mexican restaurants, in conjunction with a simulation model to evaluate and enumerate all possible supply (table) mixes. Compared to the restaurant's existing table mix, the optimal mix is capable of handling a 30% increase in customer volume without increasing waiting times beyond their original levels. While our study was in a restaurant context, the results of this research are applicable to other service businesses. |
| doi_str_mv | 10.1111/j.0011-7315.2004.02531.x |
| format | Article |
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Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an optimal supply mix, specifically on determining the supply mix that would maximize revenue. We used data from a Chevys restaurant, part of a large chain of Mexican restaurants, in conjunction with a simulation model to evaluate and enumerate all possible supply (table) mixes. Compared to the restaurant's existing table mix, the optimal mix is capable of handling a 30% increase in customer volume without increasing waiting times beyond their original levels. While our study was in a restaurant context, the results of this research are applicable to other service businesses.</description><identifier>ISSN: 0011-7315</identifier><identifier>EISSN: 1540-5915</identifier><identifier>DOI: 10.1111/j.0011-7315.2004.02531.x</identifier><identifier>CODEN: DESCDQ</identifier><language>eng</language><publisher>J. Mack Robinson College of Business, Georgia State University , Atlanta , GA 30303 , 404-651-4073, fax: 404-651-2804: Decision Sciences</publisher><subject>Aggregate planning ; Air travel ; Airlines ; Capacity Planning ; Case Study ; Customer services ; Integer programming ; Operations research ; Prices ; Restaurants ; Revenue Management ; Service Operations ; Simulation ; Studies</subject><ispartof>Decision sciences, 2004-08, Vol.35 (3), p.371-392</ispartof><rights>Copyright American Institute for Decision Sciences Summer 2004</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c4331-547a7592813a90c78a5d4b096826f38151475097209d019a9573cc27a62aca343</citedby><cites>FETCH-LOGICAL-c4331-547a7592813a90c78a5d4b096826f38151475097209d019a9573cc27a62aca343</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://onlinelibrary.wiley.com/doi/pdf/10.1111%2Fj.0011-7315.2004.02531.x$$EPDF$$P50$$Gwiley$$H</linktopdf><linktohtml>$$Uhttps://onlinelibrary.wiley.com/doi/full/10.1111%2Fj.0011-7315.2004.02531.x$$EHTML$$P50$$Gwiley$$H</linktohtml><link.rule.ids>314,776,780,1411,27903,27904,45553,45554</link.rule.ids></links><search><creatorcontrib>Kimes, Sheryl E.</creatorcontrib><creatorcontrib>Thompson, Gary M.</creatorcontrib><title>Restaurant Revenue Management at Chevys: Determining the Best Table Mix</title><title>Decision sciences</title><description>ABSTRACT
Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an optimal supply mix, specifically on determining the supply mix that would maximize revenue. We used data from a Chevys restaurant, part of a large chain of Mexican restaurants, in conjunction with a simulation model to evaluate and enumerate all possible supply (table) mixes. Compared to the restaurant's existing table mix, the optimal mix is capable of handling a 30% increase in customer volume without increasing waiting times beyond their original levels. 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Revenue management has been used in a variety of industries and generally takes the form of managing demand by manipulating length of customer usage and price. Supply mix is rarely considered, although it can have considerable impact on revenue. In this research, we focused on developing an optimal supply mix, specifically on determining the supply mix that would maximize revenue. We used data from a Chevys restaurant, part of a large chain of Mexican restaurants, in conjunction with a simulation model to evaluate and enumerate all possible supply (table) mixes. Compared to the restaurant's existing table mix, the optimal mix is capable of handling a 30% increase in customer volume without increasing waiting times beyond their original levels. While our study was in a restaurant context, the results of this research are applicable to other service businesses.</abstract><cop>J. Mack Robinson College of Business, Georgia State University , Atlanta , GA 30303 , 404-651-4073, fax: 404-651-2804</cop><pub>Decision Sciences</pub><doi>10.1111/j.0011-7315.2004.02531.x</doi><tpages>22</tpages></addata></record> |
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| source | Wiley Online Library Journals Frontfile Complete; EBSCOhost Business Source Complete |
| subjects | Aggregate planning Air travel Airlines Capacity Planning Case Study Customer services Integer programming Operations research Prices Restaurants Revenue Management Service Operations Simulation Studies |
| title | Restaurant Revenue Management at Chevys: Determining the Best Table Mix |
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