RM Moment #3:
Traditional economic theory is based on the principle that managing demand by the supply side must be based on Flexible Production as a way of responding to the variability and uncertainty of that same demand. However, there are businesses whose production is totally inflexible (hard inflexibility) or relatively inflexible (soft inflexibility), thus a new approach would be required. Revenue Management is to date the only strategic demand management decision-making process, focused on the revenue, designed to manage the constraints that inflexible production creates.
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