Total Revenue Function For Non Regular Fixed Lifetime Inventory System: A Case Study Of Airplane Seats.

The seats in an airplane are considered as non-regular fixed lifetime inventory. An inventory system where items outdate in one period but become useful in the next period. The revenue function per trip was derived for the airplane. The outdates and shortages resulting from low demand and excess demand for seats on the airplane were also derived. The revenue function was simulated in a numerical example...