RMSim: A Java library for simulating revenue management systems

Marco Bijvank, P L'Ecuyer, P Marcotte

Research output: Chapter/Conference proceedingConference proceedingAcademicpeer-review

Abstract

Revenue management (RM) is the process of understanding and anticipating customer behavior in order to maximize revenue raised from the sale of perishable resources available in limited quantities. While RM systems have been in operation for quite some time, they cannot take into account the full dynamic and stochastic nature of the problem, hence the need to assess them via simulation. In this paper we introduce RMSim, a discrete-event and object-oriented Java library designed to simulate large-scale revenue management systems. RMSim supports all control policies, arrival processes and customer behavior models hitherto proposed. It can therefore be used to calibrate parameters of the model and to optimize the control policy. A key feature of RMSim is that the network RM system can be altered without having to modify the source code of the library. Performance, flexibility and extensibility are the main goals behind the design and implementation of RMSim.
Original languageEnglish
Title of host publicationProceedings of the 2011 Winter Simulation Conference
EditorsS. Jain, R.R. Creasey, J. Himmelspach, K.P. White, M. Fu
Place of PublicationPistacaway, New-Jersey
Pages2703-2714
Number of pages12
Publication statusPublished - 2011

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