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Evolutionary Change in Product Management: Experiences in the Car Rental Industry

Author

Listed:
  • William J. Carroll

    (The Hertz Corporation, 225 Brae Boulevard, Park Ridge, New Jersey 07656-0713)

  • Richard C. Grimes

    (Decision Focus Incorporated, 650 Castro Street, Suite 300, Mountain View, California 94041-2055)

Abstract

Car rental companies offer customers various combinations of car types, rental periods, and pickup and return locations, as well as temporary insurance and refueling options. Hertz developed its yield management system (YMS) to help decide the availability of these combinations of products over time. The YMS integrates information management technology, sophisticated operations research techniques, and information from existing Hertz decision support models that solve the closely-related problems of pricing, fleet planning, and fleet deployment.

Suggested Citation

  • William J. Carroll & Richard C. Grimes, 1995. "Evolutionary Change in Product Management: Experiences in the Car Rental Industry," Interfaces, INFORMS, vol. 25(5), pages 84-104, October.
    • Handle: RePEc:inm:orinte:v:25:y:1995:i:5:p:84-104
    DOI: 10.1287/inte.25.5.84
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