SAUDIA Cargo's is overhauling its revenue management, pricing, shipment booking and forecasting mechanisms with disruptor Revenue Technology Services' (RTS) bespoke systems of Artificial Intelligence, reports London's Air Cargo Eye Designed to augment the overall efficiency of the carrier's revenue-generating processes, RTS has been engaged in incrementally integrating three key programmes over two phases
SAUDIA Cargo's is overhauling its revenue management, pricing, shipment booking and forecasting mechanisms with disruptor Revenue Technology Services' (RTS) bespoke systems of Artificial Intelligence, reports London's Air Cargo Eye Designed to augment the overall efficiency of the carrier's revenue-generating processes, RTS has been engaged in incrementally integrating three key programmes over two phases.
They include Velocity - a comprehensive revenue management service designed to forecast capacity, reveal show-up rates and demand, while optimising over-booking allotments and bid prices, it explains.
AcceleRate offers 'dynamic pricing decision support' -tailored for the air cargo industry, which considers various factors such as the effectiveness of competition, customer value, price elasticity and costs while recommending dynamic pricing, alongside managing rating and rate sheet information.
Then there is Foresight, which addresses revenue planning, sales budgeting and takes into account schedules, capacity, demand, routes, equipment characteristics and shipment details to set annual revenue targets and sales objectives, according to the statement.
The software also facilitates the design of freighter/truck schedules based on split demand, ensuring comprehensive planning and optimisation across the organisation, it details.
Mansour Alasmi, vice-president of network and revenue management at Saudia Cargo, believes the partnership with RTS Global will redefine the industry.
'We're now empowered to make data-driven pricing decisions. This collaboration exemplifies our commitment to leveraging the latest technologies to drive strategic initiatives, cementing our position as leaders in the industry,' he said.
Johan van Rensburg, global head of cargo delivery at RTS, believes the development marks a momentous stride forward. 'We are confident Saudia Cargo will redefine cargo automation,' he said.
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