Correspondence: Emre Veral, Department of Management, Baruch College, Zicklin School of Business, CUNY, One Bernard Baruch Way, Box B9-240, New York, NY 10010, USA. Tel: +1 646 312 3648; Fax: +1 646 312 3621; E-mail: emre_veral@baruch.cuny.edu

¹Leslie M. Bobb is currently an Adjunct Lecturer at Baruch College, Zicklin School of Business. At Zicklin, he has taught all of the undergraduate Operations Management courses which his department offers. His academic interests lie in the areas of forecasting and revenue management.

²Emre Veral is currently a Professor of Operations Management at Baruch College, Zicklin School of Business. At Zicklin, he supports the Honors MBA and Baruch-Mt. Sinai Health Care Executive MBA programmes as well as the undergraduate Operations Management curriculum in the areas of process management and operations planning systems design. His academic interests lie in the design and analysis of operations and processes. His publications have appeared in numerous scholarly as well as trade-oriented journals in the fields of Operations Management and Health Care delivery systems. Veral also holds a Senior Research Fellow position with the International Center for Corporate Accountability, engaged in designing and monitoring corporate codes conduct for multinational corporations' overseas operations.

Received 10 January 2008; Revised 10 January 2008; Published online 6 June 2008.

Abstract

This research focuses on the current needs and initiatives of practitioners that guide (and are guided by) research agendas, as well as current research efforts that guide (and are guided by) novel revenue management applications. Of particular interest are (1) research directions for analysing and generalising the impacts of new systems that are being implemented by individual competitors and (2) new implementation opportunities, which may lead to competitive advantages. The paper offers a brief review of current knowledge on different components of revenue management systems, accompanied by industry practices and the gaps between the two. Suggestions on future research directions include areas in which the effectiveness of industry practices cannot be generalised by the existing literature.